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Largest port on East Coast begins preparations for a strike [Video]

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VIDEO7:1807:18

Transportation Secretary Pete Buttigieg on the economy, potential U.S. port strike and Boeing strike

Port of New York/New Jersey executives tell CNBC they have begun preparations for a potential complete work stoppage by the International Longshoreman’s Association, the largest union in North America. The ILA represents over 85,000 longshoremen and a strike would shut down five of the 10 busiest ports in North America, and a total of 36 ports along the East and Gulf Coasts, on October 1. Between 43%-49% of all U.S. imports and billions of dollars in trade monthly are at stake as the union moves closer to the Oct. 1 deadline for a new contract. Cruise operations would continue.

Talks with port ownership broke down over the summer and it remains unclear how much progress, if any, is being made. The ILA rank-and-file recently voted unanimously to authorize a strikeand the group which represents port …

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