| In addition to possibly driving up consumer prices, the dockworker strike at major ports from Maine to Texas could have consequences for Arkansas businesses. Why it matters: While Walmart receives thousands of imports annually, Tyson Foods and farmers partially on exports and J.B. Hunt Transport helps keep the freight moving. Driving the news: The work stoppage affects ports that handle more than half of the cargo shipped to the U.S. from around the world. State of play: A protracted contract battle between the International Longshoremen's Association and the United States Maritime Alliance could strain supply chains ahead of the holiday shopping blitz just as slowing inflation had consumers weighing spending more. By the numbers: Walmart imported more than 57,000 20-foot equivalent containers between September 2023 and September 2024, according to Import Genius. - Arkansas shipped $4.3 billion in agricultural exports — mostly soybeans and rice — abroad in 2022, the 15th highest in the U.S.
- J.B. Hunt owns more than 121,000 53-foot containers used to ship products around the world.
What they're saying: "Our contingency planning has enabled us to respond quickly and implement alternative plans to mitigate potential impact," a Tyson Foods spokesperson told Axios in an email. "We prepare for unforeseen disruptions in our supply chain and maintain additional sources of supply to ensure we have key products available for our customers when and how they want them," a Walmart spokesperson said. Between the lines: Arkansas Farm Bureau (AFB) says about 60% of U.S. grain for export is shipped down the Mississippi River to ports in Louisiana, including about $3 billion from Arkansas. - "Bringing these ports to a halt mid-harvest ... adds another level of financial stress at a time when Arkansas farmers will struggle to stay in business," an AFB spokesperson told Axios.
What to watch: Unions have a high approval rating among Americans right now, but there also hasn't been a strike that's severely disrupted the economy since the 1970s, said Todd Vachon, a labor professor at Rutgers University. Read the full story |
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