Strike at B.C. ports could do ‘major damage’ to Canadian economy, experts warn
“Major damage” to the economy — that’s how experts describe the potential impact of a looming strike among cargo loaders in British Columbia.
If the strike happens, it could see containers pile up in “critical” west coast ports and drive prices higher for consumers throughout Canada.
Roughly 7,400 terminal cargo loaders working at B.C. ports are currently set to walk off the job at 8 a.m. Pacific on July 1. That’s after the International Longshore and Warehouse Union Canada (ILWU) issued a 72-hour strike notice to the British Columbia Maritime Employers Association (BCMEA) on Wednesday morning.
The union is seeking better compensation to offset the impacts of high inflation on workers and deliver more job security in the face of work being contracted out, in addition to automation at ports.
More than 30 B.C. ports and 49 employers on the waterfront would be disrupted by a work stoppage.
Ports in Vancouver and Prince Rupert are “pivotal” for Canadian trade, says UBC Sauder School of Business professor Werner Antweiler.
Some $800 million worth of goods flow into and out of Canada through B.C.’s ports every day, he says, representing roughly a quarter of the country’s total imports and exports.
“These ports are critical infrastructure. They are a bottleneck for our economy that we all rely on,” he tells Global News. “If they go offline for any number of days, it will lead to costs in the hundreds of millions of dollars.”
A work stoppage of even a few days could be significant, but the “longer a strike lasts, the more profound the effects” will be, Antweiler says.
Businesses that rely on intermediate goods shipped in from Asia, for example, will be unable to carry on their operations. They’ll have to source goods from other
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