Associations say labor battle could harm U.S. economy

A labor dispute has shut down work at the nation's major West Coast seaports, and several associations are warning that prolonged stoppage could deliver a blow to the nation's economy.

According to NBC News, 29 ports handling roughly one-quarter of U.S. international trade are quiet today as a result of stalled labor negotiations between dockworkers and their employers. Nearly $1 trillion worth of cargo is transported through the docks every year. http://nbcnews.to/1Dl8ea3

Among the groups calling for an end to the dispute is the National Retail Federation, whose members depend on ports to supply them with goods.

"With cargo volume growing as the economy continues to recover, the last thing we need is a port shutdown that would bring billions of dollars of economic activity to a halt," NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. "Whether it's in retail, manufacturing, agriculture or other industries, there are too many jobs that rely on the ports to let that happen."

U.S. Chamber of Commerce CEO Tom Donohue called on President Barack Obama to step in and urge the parties to settle their differences.

"This is now a growing crisis that is impacting farmers, retailers, and manufacturers throughout the country, as well as trucking and railroad companies who have far less cargo to move," he said. "The time is long past for the parties to agree on a contract."

American Apparel & Footwear Association CEO Juanita Duggan noted in a blog post that nearly half the clothing and shoes imported to the U.S. come through just two of the closed ports. The labor dispute "has become our single largest trade barrier," she said.

"If we want to trade with the world, our ports need to be open and working," she said.