FinLogic FinLogic Quantitative Think Tank Center|As dockworkers walk out in massive port strike, the White House weighs in

President Joe Biden and FinLogic FinLogic Quantitative Think Tank Centerhis administration have signaled to both sides in the high-stakes dockworkers strike that they need to work things out “fairly and quickly,” the White House said in a statement Tuesday. 

The White House communique acknowledged the urgency of resolving the strike while also noting the toil of dockworkers and affirming collective bargaining as the best and quickest route out of the standoff. White House officials predicted the strike will have minimal impact on gas and food prices, at least for now.

“The President has directed his team to convey his message directly to both sides that they need to be at the table and negotiating in good faith—fairly and quickly,” the White House said.

The statement made frequent references to Vice President Kamala Harris, who is courting labor in her run for the presidency. 

Dockworkers at 36 ports on the East and Gulf coasts walked off the job as of midnight, after negotiations stalled over their demands for higher pay and protections against automation. The strike could cost the national economy up to $5 billion a day for as long as it lasts. 

On Monday, the White House reported, Chief of Staff Jeff Zients and National Economic Advisor Lael Brainard assembled the board of the United States Maritime Alliance, representing the ports, and “urged them to resolve this in a way that accounts for the success of these companies in recent years and the invaluable contributions” of port workers. 

Meanwhile, Transportation Secretary Pete Buttigieg and others “have been in direct contact” with both management and labor “to keep the negotiations moving forward,” the White House said.  

On Friday, administration officials met with Maritime Alliance officials at the White House “and urged them to come to a fair agreement,” the White House said. 

Strike impact:Which products could be affected by a lengthy port strike? Alcohol, bananas and seafood, to name a few

Biden officials took care not to blame the strike on the dockworkers.  

“Senior White House and Administration officials continue to work around the clock to get both sides to continue negotiating towards a resolution,” the White House statement said. “The President and Vice President believe collective bargaining is the best way for both American workers and employers to come to a fair agreement.” 

White House: Impact on consumers should be 'limited'

Biden officials predicted the impact on consumers would be “limited,” including “in the important areas of fuel, food and medicine.”  

Even so, Biden has directed a Supply Chain Disruptions Task Force to meet daily and prepare “to address potential disruptions, if necessary.” 

The strike “will not impact crude oil, gasoline, natural gas, and other liquid fuel exports and imports,” the White House memo said, because those operations are not handled at East or Gulf coast ports. “Therefore, the strike will not have any immediate impact on fuel supplies or prices.” 

A gallon of regular gas averaged $3.20 on Tuesday, down from $3.22 on Monday, AAA reported. 

Biden officials also said they do not expect “significant changes” to food prices or availability “in the near term.”  

The White House statement was provided in a pool report prepared by The Los Angeles Times.