Michael Schmidt-The Daily Money: Port strike could cause havoc

2025-04-29 08:27:57source:Marcus Eriksoncategory:Markets

Good morning and Michael Schmidtwelcome to a new week! This is Betty Lin-Fisher with today's The Daily Money.

If union workers at 36 East coast and Gulf Coast ports don't reach an agreement and go on strike after midnight Tuesday, it could lead to supply shortages and increased prices for consumers.

If the International Longshoremen's Association goes on strike, it would be the first time since 1977.

The ports handle about half of U.S. ocean imports, including food, clothing, auto parts, cars shipped via container and holiday toys.

Find out more in a story by my colleague Medora Lee.

Changes will affect your money

Higher taxes and lower interest rates mean changes for consumers. The Federal Reserve's recent interest rate cut will affect savers who were enjoying higher returns on their money. An upcoming expiration of Trump tax cuts at the end of next year will also have an affect on people's cash.

Medora Lee spoke with some financial advisers for some advice.

📰 Consumer stories you shouldn't miss 📰

  • What can you do at Universal Orlando without a ticket?
  • This cruise is for women only.
  • These are the people of our national parks.
  • The gender pay gap is widening.
  • Here are four sources besides Social Security to rely on for retirement.

🍔 Today's Menu 🍔

Shirley Temple drink fans, this one's for you. 7Up has confirmed the release of a Shirley Temple 7Up flavor for the holidays.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.

More:Markets

Recommend

McConnell absent from Senate on Thursday as he recovers from fall in Capitol

WASHINGTON (AP) — Senate Republican leader Mitch McConnellis still suffering from the effects of a f

Inside the emerald mines that make Colombia a global giant of the green gem

MUZO, Colombia — Although he has helped transform Colombia's emerald industry, long a source of viol

Stocks drop as fears grow about the global banking system

Stocks tumbled on Wednesday as fears grew that the banking turmoil sparked by the recent collapse of