JPMorgan estimates the economic loss from the shutdown of every major container port from Houston to Miami and New York-New Jersey will be between $3.8 billion and $4.5 billion per day.

The union representing U.S. dockworkers signaled that 45,000 members will walk off the job at midnight, kicking off a massive strike likely to shut down ports across the East and Gulf coasts

International Longshoremen’s Association chief negotiator Harold Dagget said a shut down has the power to cripple the U.S. economy