Port strike have hit US-UK trade⁠⁠

US dockworkers are striking at 36 ports on the US East Coast and the Gulf of Mexico, including the key ports of New York/New Jersey, Baltimore, Houston and Savannah.

The strike, which began at midnight, will stop the flow of a wide variety of goods.⁠⁠ Time-sensitive imports, such as food, are likely to be among the goods first impacted.

The ports involved handle about 14% of agricultural exports shipped by sea and more than half of imports, including a significant share of trade in bananas and chocolate, according to the Farm Bureau.

More than a third of exports and imports could be affected by the strike, hitting US economic growth to the tune of at least $4.5bn each week of the strike, according to Grace Zemmer, an associate US economist at Oxford Economics, though others have estimated the economic hit could be higher.

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At KTL we are monitoring the situation and we will provide you with updates as soon as more information becomes available