Will Port Strike Push U.S. Into a Recession?

A major strike impacting impacting the entire US economy is under way. Tens of thousands of dockworkers walking off the job Tuesday

Transcript

00:00A major strike impacting the entire U.S. economy is underway, tens of thousands of dock workers

00:07walking off the job Tuesday, effectively shutting down ports along the East and Gulf Coast from

00:13Maine to Texas, including New York and New Jersey.

00:17The International Longshoremen's Association say they're prepared to fight as long as it

00:22takes, demanding wage increases of 77 percent.

00:27The strike could impact more than $4 billion a day to the U.S. economy, increasing prices,

00:34snarling supply chains across the country.

00:37Americans could soon pay more for bananas, European beer, wine and liquor, clothing,

00:43and European cars and auto parts, among many other items.