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US: White House Downplays Supply Chain Risks From Port Strike

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The White House has downplayed the risk of major shocks to supply chains after thousands of dockworkers at East and Gulf Coast ports went on strike overnight. 

  • The Hill noted ahead of the strike: “This would be the union’s first strike since 1977. Estimates for the economic impact of the strike cover a wide range: The business research nonprofit The Conference Board puts the cost at around $540 million per day, while analysts at JP Morgan estimated the cost could be up to $5 billion daily.”
  • Politico reports: “Even a short strike is likely to send shock waves through the economy. A prolonged one is politically perilous for Democrats up and down the ballot, including Vice President Kamala Harris, who may be forced to choose between their labor allies and a fully functioning economy."
  • Semafor reports: “…the White House isn’t panicking yet about supply shocks. Officials believe that initiatives like the Supply Chain Disruptions Task Force will help minimize disruptions...
  • White House spokesperson Robyn Patterson said in a statement: “Our supply chains and our economy are more resilient than they were when we came into office,” adding that Biden would not invoke the Taft-Hartley Act to force ports to remain open.
  • The White House said in a statement this morning: “The President and Vice President were briefed on Agency assessments that show impacts on consumers are expected to be limited at this time, including in the important areas of fuel, food, and medicine."
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The White House has downplayed the risk of major shocks to supply chains after thousands of dockworkers at East and Gulf Coast ports went on strike overnight. 

  • The Hill noted ahead of the strike: “This would be the union’s first strike since 1977. Estimates for the economic impact of the strike cover a wide range: The business research nonprofit The Conference Board puts the cost at around $540 million per day, while analysts at JP Morgan estimated the cost could be up to $5 billion daily.”
  • Politico reports: “Even a short strike is likely to send shock waves through the economy. A prolonged one is politically perilous for Democrats up and down the ballot, including Vice President Kamala Harris, who may be forced to choose between their labor allies and a fully functioning economy."
  • Semafor reports: “…the White House isn’t panicking yet about supply shocks. Officials believe that initiatives like the Supply Chain Disruptions Task Force will help minimize disruptions...
  • White House spokesperson Robyn Patterson said in a statement: “Our supply chains and our economy are more resilient than they were when we came into office,” adding that Biden would not invoke the Taft-Hartley Act to force ports to remain open.
  • The White House said in a statement this morning: “The President and Vice President were briefed on Agency assessments that show impacts on consumers are expected to be limited at this time, including in the important areas of fuel, food, and medicine."