Port strike: distilled spirits exports and imports at risk says trade group
United Refining Company and Red Apple Group Chairman & CEO John Catsimitidis discusses Biden's non-intervention in the port strikes and explains how it will spike inflation and raise food and oil prices.
A trade association said the distilled spirits industry and its consumers are facing impacts from the dockworker strike at East and Gulf Coast ports – and could experience even more if it continues.
Distilled Spirits Council of the United States CEO Chris Swonger on Wednesday told FOX Business that the industry is «very dependent on the vitality of the U.S. port system» and that even a day of work stoppage was «sending repercussions through the supply chain.»
His comments came ahead of tens of thousands of dockworkers represented by the International Longshoremen’s Association (ILA) on Thursday beginning their third day of strikes at three dozen ports along East and Gulf Coasts. They walked off the job after the ILA and the U.S. Maritime Alliance (USMX) were unable to reach an agreement on Monday before their expiring contract’s deadline.
Dockworkers strike at the Bayport Container Terminal in Seabrook, Texas, on October 1, 2024. Officials at 14 ports along the US East and Gulf Coasts were making last-minute preparations on September 30 for a likely labor strike that could drag on the (MARK FELIX/AFP via Getty Images / Getty Images)
Ports impacted by the ILA work stoppage handled 77% of U.S. distilled spirits exports and 43% of imports last year, according to the Distilled Spirits Councils.
That means the strikes could affect exports of spirits like American whiskey and imported spirits like cognac, Scotch whiskey, Irish whiskey, gin and certain liqueurs.
AUTOMAKERS MONITORING PORT STRIKE FOR IMPACTS ON PRODUCTION
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