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Cha ching queen living a big life on a little budget.
ByChaChingQueen Updated onOctober 4, 2024 Reading Time: 12 minutes
Home Ā» Galleries Ā» Prepare for Higher Prices! 12 Products Affected by the Longshoreman StrikeĀ 

Prepare for Higher Prices! 12 Products Affected by the Longshoreman StrikeĀ 

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A man wearing a cap and sunglasses gestures while speaking during a gathering, with a banner and flag in the background.
Image Credit: BRYAN R. SMITH/AFP via Getty Images / Getty Images

Imagine walking into your favorite store and seeing empty shelves or sky-high prices on everyday items. This scenario might soon become a reality due to a major longshoreman strike that started on October 1, 2024.

The strike, led by around 45,000 dockworkers from New England to Texas, came just as businesses were starting to recover from previous supply chain issues. Now, with delays piling up at these critical ports, prices on a wide range of products are expected to rise.

According to estimates from JP Morgan and Oxford Economics, the strike could cost the U.S. economy between $4.5 billion and $7 billion per week. With over 68% of U.S. imports passing through these ports, businesses and consumers are already feeling the impact. 

This article will break down what’s happening, why it matters, and what you can do about it. We’ll look at which products might get more expensive, why prices are going up, and offer practical tips on how to handle these changes.

By the end, you’ll have a better idea of what to expect and how to prepare. 

Table of Contents

  • Understanding the Longshoreman Strike
  • Economic Impact Overview
  • Inflation Concerns
  • Products Expected to Cost More Due to the Strike
  • Food Products (Non-Perishable Imports)
  • Fresh Produce and Seafood
  • Consumer Electronics
  • Clothing and Apparel
  • Automobiles and Auto Parts
  • Home Appliances
  • Furniture and Home Goods
  • Toys and Games
  • Construction Materials
  • Petroleum and Fuel Costs
  • Medical Supplies and Equipment
  • Retail Prices on Everyday Goods
  • Toilet Paper Panic Buying
  • What Can You Do to Prepare for Rising Costs?
  • Plan Purchases Ahead of Time
  • Look for Alternative Products or Brands
  • Buy in Bulk for Non-Perishables
  • Monitor Prices and Use Shopping Apps
  • Budget for Potential Price Hikes
  • Support Local and Small Businesses
  • Weathering the Storm: Your Action Plan

Understanding the Longshoreman Strike

Stacks of colorful shipping containers are seen at a busy port, with cranes and equipment in the foreground under a cloudy sky.
Image Credit: Pexels

The longshoreman strike is driven by dockworkers’ demands for better pay and improved working conditions. Many workers are concerned about job security, especially as automation becomes more common in the shipping industry. 

Led by the International Longshoremen’s Association (ILA), this strike marks the first major work stoppage on the East and Gulf Coasts in nearly 50 years, with the last significant strike taking place in 1977. 

As tensions rise, the impact of this strike extends beyond the ports, affecting consumers and businesses across the country.

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Economic Impact Overview

A hand points at a digital financial graph with upward-trending arrows, reflecting stock market growth or analysis on a screen.
Image Credit: iStock

The economic effects of this strike are already significant. Experts estimate that the U.S. could lose between $4.5 billion and $7 billion each week due to these disruptions. This loss translates into less available inventory for businesses, which may lead to higher prices for consumers. 

As shipping delays continue, the rising costs of goods can have a serious effect on the economy, putting pressure on households and businesses alike.

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Inflation Concerns

A calculator displays "INFLATION" on its screen, surrounded by U.S. dollar bills, with a notebook and pen nearby.
Image Credit: iStock

Inflation is a major concern during this strike. When shipping costs increase, the prices of imported goods typically rise as well. Research shows that about 90% of these shipping cost increases are passed on to consumers within two months. 

If the strike persists, it could hinder efforts to bring inflation down to the Federal Reserve’s target of 2%. This means that everyday items you rely on could become even more expensive, further straining your budget.

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Products Expected to Cost More Due to the Strike

Conveyor belt with cardboard boxes in a warehouse aisle, surrounded by shelves stocked with similar boxes.
Image Credit: iStock

Now that we understand the impact of the longshoreman strike, let’s take a look at the products likely to see price increases. Many goods relying on imports, especially those shipped through affected ports, are expected to become more expensive. 

Here’s what you can expect to pay more for in the coming weeks.

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Food Products (Non-Perishable Imports)

Shelves stocked with various canned goods in a grocery store, including fish, meats, and vegetables, labeled with different prices.
Image Credit: iStock

Imported non-perishable food items like canned goods, packaged snacks, and beverages may face price hikes. These products often rely on international shipping, and delays can disrupt supply chains. 

If shipping delays continue, you might notice higher prices on items like olive oil, coffee, rice, and canned seafood as stores struggle to keep shelves stocked.

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Fresh Produce and Seafood

A variety of seafood including shrimp, lobster, and other shellfish are displayed on ice at a market, with price tags and a "Do Not Touch" sign visible.

While fresh produce and seafood are more time-sensitive, certain items shipped from Asia and South America could also see price increases. Limited availability of perishable goods means local suppliers may charge more to cover higher transportation costs. 

Expect to pay more for fresh fish, shellfish, exotic fruits, and vegetables as shipping delays create shortages.

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Consumer Electronics

A cluttered desk with various gadgets including a laptop, tablet, smartphones, headphones, a camera, a smartwatch, and office supplies. A red button on the laptop screen reads "START ENGINE STOP.

Most consumer electronics, including smartphones, computers, and gaming consoles, come from Asia and rely on U.S. West Coast ports for shipping. Delays in unloading and transporting these items can lead to shortages and higher prices. 

If you’re looking to buy a new laptop, phone, or gaming device, be prepared for potential price increases due to these disruptions.

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Clothing and Apparel

Clothes on hangers, including white, black, and red garments, arranged closely on a rack.

A large portion of clothing, particularly fast fashion items, is imported through major ports. Delays in receiving shipments can lead to lower inventory for retailers, especially for seasonal clothing. 

As a result, you may see price increases on sportswear, shoes, and holiday-specific apparel as retailers adjust to cover higher freight costs.

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Automobiles and Auto Parts

Close-up of a detailed car engine display, showcasing various components and belts, with vintage cars visible in the background.
Image Credit: Pexels

The automobile industry relies on imported parts and fully assembled vehicles, especially from Asian markets. Disruptions caused by the strike will likely increase lead times for vehicles and parts. 

Manufacturers and dealerships may raise prices to offset these delays, meaning you could pay more for imported cars, batteries, chips, and essential car components.

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Home Appliances

A variety of home appliances, including a refrigerator, washing machine, vacuum cleaner, mixer, toaster, microwave, coffee machines, food processor, and kettle, arranged against a gray wall on a wooden floor.

Large home appliances, such as washing machines and refrigerators, are often imported from international manufacturers. With shipping delays impacting inventory, prices for these items could rise due to demand outpacing supply. 

You might find that dishwashers, microwaves, and vacuum cleaners become more expensive as the strike continues.

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Furniture and Home Goods

A showroom displaying various furniture pieces including a large beige sectional sofa, a white armchair, a gray coffee table, other sofas, and decor items in a modern, dimly lit setting.

Much of the affordable furniture sold in North America is imported from Asia. Delays in shipments could lead to increased costs, particularly for larger items like outdoor furniture. 

Retailers may pass on higher transportation fees to customers, resulting in price hikes on sofas, dining sets, and patio furniture.

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Toys and Games

A black PlayStation controller and a white Xbox controller are placed on a wooden surface.

Toys are mainly manufactured in countries like China and shipped to the U.S. The strike could create significant delays, especially during the holiday season, leading to higher prices due to supply shortages and increased freight costs. 

If you’re shopping for gifts, you may notice price increases on action figures, board games, and electronic toys.

🙋‍♀️If you like what you are reading, then click like and subscribe to my newsletter. We share tips to waste less time and money.

Construction Materials

Stacks of lumber are piled under a clear blue sky.
Image Credit: iStock

Many construction materials, such as lumber and steel, are imported from Asia. The strike may delay the arrival of these critical supplies, pushing prices up due to scarcity. 

Expect to see increased costs for steel beams, plywood, and roofing materials, which could impact ongoing construction projects.

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Petroleum and Fuel Costs

Close-up of a green fuel nozzle inserted into a red car at a gas station, a reminder that places to tip are expanding beyond the usual, leading some to question unnecessary tipping practices.

While not all fuel is imported via sea routes, oil products and refining chemicals used in fuel production are affected by maritime shipping. Increased transportation costs in the supply chain could result in higher prices for gasoline and diesel. 

Be prepared for potential price hikes at the pump as the effects of the strike unfold.

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Medical Supplies and Equipment

Person in protective gear and mask sits at a table with medical supplies, writing on a clipboard. A staircase and lamp are visible in the background.
Image Credit: Pexels

Many medical devices and pharmaceutical ingredients are imported, so delays could lead to higher costs for hospitals and healthcare providers. Non-urgent medical equipment may become more expensive, affecting the healthcare system’s ability to serve patients. 

Expect to see price increases for surgical tools, diagnostic machines, and personal protective equipment (PPE) as the strike continues.

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Retail Prices on Everyday Goods

Assorted white cleaning products in bottles and containers arranged on a gray surface with a subtle shadow pattern on the wall behind.
Image Credit: Pexels

Even everyday items like cleaning supplies and personal care products could see price increases due to the strike. Shipping disruptions mean that retailers might face added costs, which can lead to higher prices for essential items. 

Small products like detergents and razors might become more expensive as the strike continues. Be prepared to see changes in the prices of items you typically purchase. 

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Toilet Paper Panic Buying

A white wicker basket containing six rolls of toilet paper, with one roll placed on the floor next to the basket, positioned against a plain wall.

There’s already been a rush to Costco, with people stocking up on toilet paper as if another shortage is on the horizon. But here’s the thing: Costco’s toilet paper is made in the U.S., so it’s not even affected by the longshoreman strike. 

The current supply chain disruptions have nothing to do with domestically produced goods like this. It just goes to show how irrational consumer behavior can be in uncertain times. 

People hear about potential shortages and assume the worst, causing panic buying even when there’s no actual reason for it.

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What Can You Do to Prepare for Rising Costs?

A woman with a blanket wrapped around her shoulders sits on a sofa, using a calculator and reviewing paperwork on a coffee table in the living room, concerned about things becoming too expensive.

With the ongoing longshoreman strike likely leading to increased prices, it’s wise to plan ahead. Here are some strategies you can use to help manage your budget and prepare for rising costs.

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Plan Purchases Ahead of Time

A man and woman examine a washing machine in an appliance store, standing in an aisle lined with machines.
Image Credit: iStock

Planning your purchases can help you avoid paying inflated prices. With potential shortages in key areas like electronics and clothing, consider shopping early for holiday gifts or big-ticket items like appliances. 

Buying what you need now can save you money later when prices might be higher. Make a list of important purchases and try to get them sooner rather than later.

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Look for Alternative Products or Brands

Person holding a smartphone in a store, testing the device's touchscreen, with multiple phones displayed on a shelf in the background.
Image Credit: iStock

Try finding local or American-made options instead of imported goods. Choosing locally grown produce or U.S.-made electronics and clothing might help you avoid price hikes and shipping delays caused by the strike. 

This approach not only saves you money but also helps support American businesses and workers.

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Buy in Bulk for Non-Perishables

Image Credit: iStock

If you can, stock up on non-perishable items before prices climb. Items like canned goods, household essentials, and medical supplies may become harder to find due to shipping disruptions. 

Buying larger amounts now can help you save money and make sure you have what you need later. Just be sure to check expiration dates and only buy what you’ll use.

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Monitor Prices and Use Shopping Apps

An older woman is sitting on a couch and using a cell phone for buying on eBay.

Keep an eye on price changes using tracking tools and shopping apps. These can help you time your purchases for when prices are lowest or alert you to deals before items become more expensive. 

Some apps even let you compare prices across different stores, helping you find the best deals in your area.

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Budget for Potential Price Hikes

Two people sit at a table, one writing in a notebook with a pencil, the other using a calculator. Cash is spread out on the table beside them. They appear focused on their task, perhaps figuring out how to save on monthly bills.

Now’s a good time to adjust your monthly budget to prepare for possible increases in everyday essentials like groceries and fuel. Try setting aside a little extra money each month to help manage the impact of rising costs. 

This extra cushion can make it easier to handle unexpected expenses without breaking the bank.

5 Reasons to Start Budgeting As Soon as Possible

Support Local and Small Businesses

A small green grocery store on a street corner displays baskets of colorful fruits and vegetables on the sidewalk.
Image Credit: iStock

Local shops often rely less on imported goods and might not face the same supply chain issues as bigger stores. Shopping at small businesses can help you avoid some price increases and product shortages. 

Plus, supporting these shops helps your local economy during the strike, making a positive impact in your community. Look for farmers’ markets, local craftspeople, and small retail shops in your area.

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Weathering the Storm: Your Action Plan

A woman in a blue shirt stands indoors, smiling with her arms outstretched and palms up. Shelves with various items, including a soccer ball, are visible in the background.

The longshoreman strike is shaking things up, but you’ve got the power to stay ahead of the game. Remember, knowledge is your best tool. Keep an eye on the news, stay flexible with your shopping habits, and don’t be afraid to try new brands or local alternatives. 

Every challenge brings opportunity. Use this time to fine-tune your budgeting skills, build up your emergency fund, and become a savvier shopper. 

With some smart planning and a bit of flexibility, you’ll not only weather this storm but come out stronger on the other side. Stay sharp, stay prepared, and you’ll be just fine.

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