As the longshoremen strike continues in Texas, some people are starting to panic buy items like toilet paper, but experts are advising against it. The strike began when the contract between the ports and around 45,000 members of the International Longshoremen’s Association expired. This has led to dockworkers at 36 ports from Maine to Houston going on strike.
While there is concern about the strike affecting the availability of certain items like electronics, car parts, and some fruits, experts like Edward Anderson from the University of Texas McCombs School of Business assure that there will not be a shortage of domestically produced items like toilet paper. Anderson explained that products like bananas and pineapples are more likely to be impacted by the strike due to their perishable nature.
Harris County Judge Lina Hidalgo has warned against panic buying, as it could result in price gouging and inflation. She emphasized the importance of not causing unnecessary economic problems in the region. Hidalgo also mentioned that the county would be keeping a close eye on the local supply of essential goods and medical supplies.
It is noted that ports, distributors, and storefronts have been aware of the potential strike for months and have taken steps to prepare for it. While some goods like Halloween products have already entered the country, perishable imports such as specialty fruits could be affected early on in the strike.
Texas A&M University professor Eleftherios Iakovou explained that the high efficiency of the supply chain could lead to cascading effects if the strike persists. He emphasized that the impact would primarily be felt in the manufacturing sector rather than on store shelves with everyday items like toilet paper.
Despite the economic uncertainties, there is a belief that mounting pressure will push for a deal to be reached, especially if President Biden decides to intervene. Currently, Biden has chosen not to get involved and has left it up to the two sides to come to an agreement.
In conclusion, while the longshoremen strike may impact certain sectors of the economy, experts are urging the public not to engage in panic buying as it could worsen the situation. It is essential to trust that preparations have been made and that measures are in place to mitigate any potential shortages. If the strike continues, it is hoped that a resolution will be reached to prevent further economic disruptions.
