READ HERE: Time is running out for the International Longshoremen’s Association (ILA) and the US Maritime Alliance (USMX)—a coalition of port operators and carriers—to form a new labor contract as the existing one expires at midnight. A no-deal scenario would mean thousands of longshoremen at three dozen facilities across 14 Gulf and East Coast ports would begin striking at 12:01 am EST. Tuesday would mark the beginning of a major supply chain storm (inflation surge) in a no-deal scenario.

Goldman analyst explained last week that a walkout by ILA members would jeopardize $5 billion in daily international trade coming into the Gulf and East Coast ports.

Goldman’s Jordan Alliger told clients, “Upwards of $4.9bn per day is at risk in international trade along the East and Gulf coasts, along with the potential for supply chains to likely become less fluid due to emergent congestion, which in turn could result in a re-emergence of transport price inflation.”

“The biggest wild card in the presidential election that nobody’s talking about? The looming port strike that could shut down all East and Gulf Coast ports just 36 days before the election,” Flexport CEO Ryan Petersen wrote on X earlier this month.