With the election (largely) settled, we turn our attention to the challenges and opportunities that the new Administration and Congress hold for maritime stakeholders.Maritime Challenges Out (and at) the GatesOn October 3,
With the election (largely) settled, we turn our attention to the challenges and opportunities that the new Administration and Congress hold for maritime stakeholders.
- Maritime Challenges Out (and at) the Gates
On October 3, 2024, the United States Maritime Alliance (USMX) and the International Longshoremen's Association, AFL-CIO (ILA) reached a tentative agreement on wages, extending their Master Contract until January 15, 2024. The tentative agreement reopened ports stretching from Maine to Texas following a three-day strike. Larger issues impacting marine terminal efficiency and safety remained on the table for subsequent discussions. However, as of November 13, discussions have again broken down and the parties are yet to return to the negotiating table, increasing the risk of another strike.
The expiration date of the extended Master Contract is notable, set to occur five days before President-elect Trump’s inauguration. If the parties fail to return to the negotiating table and reach an agreement before the expiration date, the Trump Administration may be put to the test on day one in handling an ongoing strike that could have significant economic impacts. The timing is further impacted by the fact that the strike would fall right before Chinese New Year, which begins on January
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