Dockworkers on the U.S. East Coast and Gulf Coast began a strike early on Tuesday, their first large-scale stoppage in nearly 50 years.

Tens of thousands of workers at major ports on the US East and Gulf Coasts went on strike Tuesday in an action that could drag down the world's largest economy just over a month before the presidential election.

President Joe Biden and his 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.

Tens of thousands of dockworkers went on strike from Savannah to Maine on Tuesday to demand higher wages and a ban on all automation.

U.S. ports from Maine to Texas shut down Tuesday when the union representing about 45,000 dockworkers went on strike for the first time since 1977. A lengthy shutdown could raise prices on goods around the country and potentially cause shortages and price increases at big and small retailers alike as the holiday shopping season — along with a tight presidential election — approaches.

New Yorkers may see shortages and higher retail prices when they start their holiday shopping as the first large-scale stoppage in almost 50 years started affecting ports from Maine to Texas Tuesday.

KEY TAKEAWAYS The International Longshoremen’s Association (ILA) members walked out this week, seeking higher pay and labor protections against automation from the United States Maritime Alliance (USMX).

The 45,000 dockworkers who went on strike Tuesday for the first time in decades at 36 U.S. ports from Maine to Texas may wield the upper hand in their standoff with port operators over wages and the use of automation.