New York Should Expect Shortages, Higher Prices On Popular Goods

A $5 billion a day strike is expected to impact New Yorkers in a number of ways.

Workers at ports from Maine to Texas went on strike on Tuesday.

Port Workers Go On Strike

At midnight, with a new contract not agreed to, the International Longshoremen's Association made good on their vow to walk off the job.

Officials believe this could be the most disruptive strike to the U.S. economy in decades.

If the strike drags on, it could stop the flow of household goods, clothing, toys, cars and much more, right before the holidays kick-off.

JPMorgan believes the cost to the country could be about $5 billion a day. Expect shortages and higher prices and many items, CNN reports.

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Experts warn this strike will stop the flow of goods and household items from getting to big retailers like Costco, Walmart and Home Depot.

New York State Prepared

Gov. Kathy Hochul says New York is prepared for this strike.

She agrees disruptions with supplies is expected, but doesn't think New Yorkers will really notice a shortage in most essential goods like food and medical supplies until weeks into the strike.

Officials are also prepared to use state stockpiles to deploy resources including generators if they are needed.

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"The Port Authority has been working closely with the commercial trucking industry to ensure cargo containing essential goods, medical supplies, and food products that have already been offloaded are moved out of Port facilities and to their final destinations," Hochul's office states.

Home Heating Oil, Gasoline and Diesel To Be Unaffected During Possible Strike

Hochul's office believes the strike won't impact petrochemical goods including home heating oil, gasoline and diesel, as well as municipal solid waste in the Port of New York and New Jersey.

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Upstate New York Ports In Albany, Coeymans, Oswego and Buffalo Not Impacted

"We do not anticipate that Upstate ports including Albany, Coeymans, Oswego and Buffalo will be impacted by a strike," Hochul's office stated.

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