Sudden! National strike! Port operations are disrupted!
On May 9, local time, Argentina’s largest labor union, the General Confederation of Labor, launched a nationwide strike to protest against the structural reforms implemented by the Milais government. Although the scale of this strike is not expected to be as large as the strike on January 24, during the strike, major economic activities throughout Argentina will be suspended for 24 hours, which will have a serious impact on all walks of life.
The general strike will severely disrupt transport and commercial operations, including the daily operations of all ports, which will deal a heavy blow to the economy.
The report pointed out that the nationwide strike in Argentina was carried out in response to the "rude adjustments" proposed by the government. Union members expressed their dissatisfaction with the reform with the slogan "The country cannot be sold". Unions have charged that this adjustment is actually what the government is seeking through Milley's flagship program, the "Foundations and Starting Points of Argentine Freedom" bill.
Argentine presidential spokesman Manuel Adorni condemned on the 8th that the strike on the 9th is expected to affect nearly 6.6 million people because they "will not be able to access transportation services." He reiterated that there was "no obvious reason" for the strike and called it "political," a view consistent with his comments the day before.
It is reported that this is the second national general strike launched by the General Federation of Labor since the Milais government took office on December 10, 2023. The last time was on January 24, which was Argentina's first nationwide general strike since May 2019. Demonstrations were also held in many places across the country, with 1.5 million people participating in the marches across the country.
Kuehne+Nagel issued an early warning on its official website on May 8, stating that unions across Argentina planned to conduct a 24-hour nationwide general strike on May 9. The strike is expected to cause disruptions to cargo transportation and port operations in Buenos Aires
The move is expected to cause significant disruption to transportation and commercial operations. According to Kuehne+Nagel sources, unions participating in the strike include those representing Buenos Aires port, cargo transport and Argentine customs employees.
Argentina’s National Institute of Statistics and Census released a report on April 12, stating that the country’s inflation rate in March was as high as 11%. The cumulative inflation rate in the past 12 months has soared to 287.9%. The cumulative inflation rate this year has Reaching 51.6%. In addition, Argentina’s central bank predicted in a market expectations survey report released in April that the country’s inflation rate will reach a staggering 203.8% in 2024.
Given this dire economic situation, the risks to recent exports to Argentina are extremely high. Issues such as nationwide strikes, high inflation, rising prices and declining economic activity may cause great trouble to the export business.
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