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U.S. exporters are on edge as port strike continues

Marketplace

Marketplace

News, Business

4.6 β€’ 8.5K Ratings

πŸ—“οΈ 3 October 2024

⏱️ 28 minutes

🧾️ Download transcript

Summary

The United States is the biggest importer and second-biggest exporter in the world. So if the dockworker strike lasts, some sectors may have to look for other ways to get their goods overseas β€” or pay to store them until cargo starts moving. Also in this episode: Prices probably won’t fall with inflation, economists keep an eye on the diffusion index, and Kai Ryssdal visits a remote atoll in the Pacific Ocean that’s important to U.S. security but vulnerable to climate change.

Transcript

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0:21.6

From all of us at Marketplace, we want to say thank you to those who contributed during our fall

0:28.8

fundraiser.

0:29.9

We made good progress toward our goal to hear from 2,500 marketplace investors, but we

0:36.1

didn't quite cross the finish line.

0:38.6

If you've thought about investing in marketplace, make today the day you do it. Help us get back on track. Go to Marketplace.org

0:47.0

Donate, and thank you. On the program today the flip side of the port strike a different way to think about

1:00.8

tomorrow's jobs report and we will take a trip to the islands. From American

1:06.4

public media this is marketplace. In Los Angeles, I'm Kyle Rizdall. It is Thursday today, 3rd of October. Good as always to have you long, everybody.

1:26.6

The United States is the world's biggest importer of stuff.

1:31.8

Makes sense, right? World's biggest economy, relatively affluent. Stuff. dollars worth of stuff in 2022 so says the office of the US Trade

1:44.2

representative so the port strike now in day three is a big deal the United

1:51.6

States is also though behind China the world's second biggest exporter of stuff.

1:57.0

A bit more than $2 trillion worth of goods going out the metaphorical door.

2:00.0

Again, that's from the USTR. And that means that the longer the strike goes,

2:06.2

there are, yes, going to be strains on businesses and consumers waiting for their imports.

2:11.1

Industries that rely on East and Gulf Coast ports to get their products to overseas markets, they're going to be feeling it too.

2:17.0

Marketplace's Justin Ho starts us off.

2:19.0

One industry that's bracing for impact is agriculture. This couldn't have come at a

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