Proud For Profits
  • Investing
  • Stock
  • Latest News
  • Economy
  • Investing
  • Stock
  • Latest News
  • Economy
No Result
View All Result
Proud For Profits
No Result
View All Result
Home Stock

Biden won’t block potential strike at East Coast ports, administration official says

by
September 17, 2024
in Stock
0
Biden won’t block potential strike at East Coast ports, administration official says

By Lisa Baertlein and David Shepardson

LOS ANGELES/WASHINGTON (Reuters) – U.S. President Joe Biden does not intend to invoke a federal law to prevent a port strike on the East Coast and Gulf of Mexico if dockworkers fail to secure a new labor contract by an Oct. 1 deadline, an administration official said on Tuesday.

The International Longshoremen’s Association, negotiating on behalf of workers at three dozen U.S. ports from Maine to Texas that handle about half of the nation’s seaborne imports, has warned that its members are prepared to stop work if they do not have a contract by then.

Their current six-year agreement with the United States Maritime Alliance (USMX) expires on Sept. 30.

U.S. presidents can intervene in labor disputes that threaten national security or safety by imposing an 80-day cooling-off period under the federal Taft-Hartley Act, forcing workers back on the job while negotiations continue.

“We’ve never invoked Taft-Hartley to break a strike and are not considering doing so now,” the Biden administration official told Reuters.

Talks between the ILA and USMX have stalled over issues ranging from wages and benefits to terminal automation.

“We encourage all parties to remain at the bargaining table and negotiate in good faith,” the Biden official said.

The National Retail Federation on Tuesday led a group of 177 trade associations representing retailers like Walmart (NYSE:WMT), manufacturers, farmers, auto makers and truckers in calling on Biden to help reach a resolution.

Last summer, Biden dispatched Acting Labor Secretary Julie Su to help negotiate a crucial contract deal between U.S. West Coast seaport employers and their union workers, following labor disruptions at some busy California port terminals.

Both sides had agreed to keep talking after their July 1, 2022, deadline because the COVID pandemic cargo boom was jamming up critical supply chains and stoking inflation.

Their June 2023 deal secured a 32% pay increase for workers and was expected to be a template for labor talks on the East and Gulf coasts.

This post appeared first on investing.com
Previous Post

Judge rules for Patrick Orlando’s ARC in dispute over Trump Media stake

Next Post

US Senator Sanders says generic drugmakers could sell Ozempic for less than $100/month

Next Post
US Senator Sanders says generic drugmakers could sell Ozempic for less than $100/month

US Senator Sanders says generic drugmakers could sell Ozempic for less than $100/month

Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Popular News

    Scoop: Trump HHS secretary nominee RFK Jr to stress he’s not ‘anti-vaccine’ at confirmation hearing

    Scoop: Trump HHS secretary nominee RFK Jr to stress he’s not ‘anti-vaccine’ at confirmation hearing

    January 29, 2025
    MARK HALPERIN: The great debate: Is Donald Trump cool?

    MARK HALPERIN: The great debate: Is Donald Trump cool?

    January 29, 2025
    Snowflake and Twilio Stocks are Surging: Here’s What to Do Now!

    Snowflake and Twilio Stocks are Surging: Here’s What to Do Now!

    January 29, 2025
    Track all markets on TradingView

    About Proud For Profits

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Main Categories

    • Investing
    • Stock
    • Latest News
    • Economy

    Latest News

    • Scoop: Trump HHS secretary nominee RFK Jr to stress he’s not ‘anti-vaccine’ at confirmation hearing
    • MARK HALPERIN: The great debate: Is Donald Trump cool?
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 proudforprofits.com | All Rights Reserved

    No Result
    View All Result
    • Investing
    • Stock
    • Latest News
    • Economy

    Copyright © 2025 proudforprofits.com | All Rights Reserved