Port Strike Averted, But U.S. Import Surge Expected to Continue

A potential crisis at U.S. East and Gulf Coast ports has been averted as the International Longshoremen’s Association and U.S. Maritime Alliance reached a tentative six-year labor agreement, preventing what would have been the second strike in four months.

The agreement comes just days before a January 15 deadline, when a temporary contract extension was set to expire. “We have narrowly averted a strike, but that doesn’t mean there hasn’t been an impact,” noted Ben Hackett, Founder of Hackett Associates.

Despite the positive development, U.S. ports are experiencing a significant sur…