European port strikes ripple into global consequences as global trade through Europe slows

CNBC reports show that the surge in port strikes all over Europe since Summer 2022 are still in effect, with a massive impact on global trade from, to, and through affected countries. Experts at CNBC claim that the strikes are "only getting worse" as workers continue to fight to negotiate better wages, and that it's unlikely the strikes will end before the first quarter of 2023.

CNBC has used data from ImportGenius to identify which products are most heavily affected by these delays, with many products primarily traded into or out of the United States from or through Europe likely to experience severe shortages. Ships with containers full of products like Kellog's Cereal, Pirelli Tires, Guiness Beer and Whiskey, and other important and perishable products like medical supplies and pork shoulders wait outside of European ports as port authorities attempt to navigate the situation.

In addition to the congestion in Europe, an immense heat wave in China this summer shut down production for some manufacturers for over a week, with record-breaking temperatures from June to August of this year affecting factories across the country. This holdup majorly set back numbers for both importers and exporters associated with those companies. Once again, some products seem to be more affected than others, with chemical products like batteries and solar panels as some of the most heavily affected.

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