And our Spotlight on Business Report tonight.

We may be just days away from a strike that could shut down activity at ports from Maine down to Texas, including here in Newark.

And that could spell serious trouble for a U.S. economy that is already hampered by rising inflation.

The union representing longshoremen is ready to walk off the job next week, saying the group representing the ports isn't coming to the bargaining table with the fair offer.

It's a decision that could have wide ranging effects not only on our economy but the political climate ahead of a critical election.

Senior correspondent Joanna Gagis reports.

We're hoping to come to an agreement soon.

We're concerned about our employees being out of work.

We're concerned about our customers and their ability to serve their customers.

Longshoremen working at the port in Newark could walk off the job on Tuesday morning, potentially bringing commerce in the area to a screeching halt.

That's because negotiations for a new contract between the International Longshoremen's Association, the L.A. and their employer, the U.S. Maritime Alliance, have stalled.

Representatives from the longshoremen's union are saying that the employer has not made any meaningful counterproposals around wages.

And there's also a lot of anger around the introduction of some new technology in some of the ports in the south, which is impacting their jobs.

And.

And the union is making the case that the employers need to bargain over those changes.

The ILA is the largest union of maritime workers in the U.S..

While specifics aren't public, some reports say they're asking for about a 75% wage increase over a six year period from the $39 an hour they earn.

Now.

And they're poised to strike at all of their East coast and Gulf of Mexico ports on October 1st.

Well, it'll be expensive for our business, but I'm mostly concerned about our employees.

I mean, especially nowadays with inflation being what it is, their ability to pay their bills without getting a paycheck every week.

Tom Heimgartner owns Best Transportation, a trucking company that depends on port workers to move goods onto his trucks.

He employs a little more than 100 workers, but the Port Authority of New York and New Jersey says some 600,000 jobs are impacted by the flow of goods at the port.

And J.P. Morgan estimates that a strike could cost the economy $5 billion a day.

Logistics and the ports are so important to our economy here in New Jersey that it would have a ripple in effect across the board.

Not just retail manufacturing, but also the service providers that all support those industries.

Right.

Attorneys, bankers, accountants.

You know, this could have a devastating effect.

We're already in a period of high inflation.

We saw the global supply chain shut down during COVID and that skyrocketed prices.

What could this do to the cost of goods for consumers?

It's going to go up.

I mean, that's the one certainty.

It's a very simple rubric.

Less capacity, higher prices.

If you only have so many ships, you could ship one prior to the strike.

Those prices are going to go very high.

A union representative says their employer, U.S. Max, has been trying to get the ILO to accept a lowball wage package that he called insulting offers that are a joke.

Considering the work my ILA Longshore workers perform and the billion dollar profits the companies make off the backs of their labor.

Meanwhile, the U.S. Maritime Alliance filed an unfair labor practice charge with the National Labor Relations Board today, accusing the union of not bargaining in good faith.

Last week, several trade groups sent a letter to President Biden asking him to help the two sides come together.

As of now, President Biden has said he will not enforce the 1947 Taft-Hartley Act, which would force workers back to work.

But could be a complicated political decision.

The federal government got involved when the railroad workers were threatening to go on strike about a year ago, and that really left some scars and bad feelings with a lot of labor folks now.

And we're going into an election.

So there's a lot of politics always playing in the background as well.

For now, businesses are adjusting to keep their shelves stocked with goods.

Some ordered higher quantities in the last few months.

Others are rerouting shipments to the West Coast.

Because of what happened with COVID and the supply chain shortages.

I know when I talk to our manufacturers, a lot of them have already planned, okay, if we can't get it from Europe, can we get it from South America?

Is there a state nearby?

A lot of them will even talk to their competitors and share materials and products.

For those holding out hope that a strike might be averted.

Ron Leibman says without the government putting tremendous pressure on it, unless the unions suddenly has a come to God moment, there's going to be a strike.

They have four days to figure it out.

In Newark, I'm Joanna Gagis, NJ Spotlight News.