Shoppers may soon find it difficult to locate products like bananas, electronics, and *gasp* alcohol, as dockworkers at ports stretching from Maine to Texas have officially begun a strike.

As of Tuesday, 36 ports along the East and Gulf coasts have closed, with 45,000 union workers walking off the job after negotiations between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) broke down. This marks the first ILA strike since 1977 and could result in one of the most significant supply chain disturbances since the pandemic, creating shortages of vital items on store shelves and disrupting holiday shopping for millions.

Furthermore, experts believe that the strike may inflict economic losses of up to $5 billion daily, adversely affecting small to medium-sized businesses, and potentially driving prices higher for individuals already dealing with rising housing and food costs, as reported by YSL News.

“If this strike lasts more than a week, we might see goods shortages for the holiday season,” stated Eric Clark, portfolio manager at Accuvest Global Advisors, in an interview with YSL News. “We could experience inflation levels similar to or worse than those seen at last year’s peak for six months.”

Here’s what consumers need to be aware of regarding how this strike might impact their everyday and holiday shopping:

Which products should shoppers stock up on?

With about half of all U.S. ocean imports passing through these ports, shoppers may face higher prices and shortages again, as noted by Chris Tang, a distinguished professor in supply chain management at UCLA, during his conversation with YSL News.

Products expected to see price increases and shortages include:

• Seafood: Delicate items like cod from Iceland or Canada, and shrimp from Thailand and Ecuador are hard to transport by train due to their need for refrigeration, according to Tang.
• Electronics: Devices like cell phones and computers, now sourced from Southeast Asian countries such as Vietnam, Indonesia, and Thailand instead of China, primarily come through East Coast ports, states Tang.
• Pharmaceuticals: While these can be shipped via air, consumers might still notice shortages if negotiations aren’t resolved within a month, according to Tang.
• Cars and auto parts: European vehicles and auto components often move through East and Gulf Coast ports, with Baltimore, Maryland, being the top port for car shipments, according to experts.
• Machinery parts: East Coast ports excel in shipments of machinery, fabricated steel, and precision instruments, based on S&P Global Market Intelligence data.
• Alcohol: Imported beverages like wine, beer, and spirits from Europe, South America, or the Caribbean may experience disruptions. Fortunately, American consumers have plenty of local alternatives.
• Bananas: Approximately 75% of the country’s bananas arrive through East Coast and Gulf Coast ports, as per Jason Miller, interim chair of supply chain management at Michigan State University; also, due to their perishable nature, they aren’t cost-effective to transport via air.

How will holiday shopping be impacted?

Shoppers may soon find themselves facing challenges while completing their holiday purchases.

The ongoing strike may make it difficult for consumers to find toys and various gifts for their children in the upcoming weeks and months.

While large retailers like Walmart and Costco have the resources to stock up on inventory early and store it— or to cover costs of rerouting shipments to the West Coast—smaller businesses typically do not have that capability, experts explain.

This means “some businesses might completely miss out on essential holiday supplies,” as stated by Ben Johnston, COO at Kapitus, a small business loan provider, in an interview with YSL News. “A strike of this magnitude could determine whether a business turns a profit or incurs losses for the entire year.”

Time is running out to prevent disruptions in holiday shopping.

“If this strike continues for over a week, there may be significant shortages of goods for the holidays,” warned Eric Clark, who manages investments for the Rational Dynamic Brands Fund.

What other impacts might the strike have on farmers, small businesses, and jobs?

The Biden administration has opted not to apply the Taft-Hartley Act,

The federal government is considering legal action to compel ports to reopen by requesting a court order against a strike, which would enable negotiations to proceed between both sides. However, White House officials are advocating for continued dialogue as various industries, including retail, agriculture, commerce, auto care, and toys, seek assistance amid the situation.

Experts warn that businesses focused on international markets could suffer significantly. For instance, agricultural producers of soybeans and poultry are likely to face financial losses as their perishable products cannot be exported.

On the job front, companies dealing with shortages of parts might need to maintain minimal inventories. To reduce expenses, they may shut down assembly lines during a prolonged strike, experts informed YSL News. Consequently, American workers could experience furloughs and job losses just when the job market is already beginning to cool.