*

No talks scheduled in port strike

*

Biden presses port employers, saying 'it's time' for them

to

bargain

*

Strike hits shipments of everything from food to autos

(Adds Biden quote in paragraph 5)

By Doyinsola Oladipo and David Shepardson

NEW YORK/WASHINGTON, Oct 2 (Reuters) - A strike by

45,000 dockworkers halting shipments at U.S. East Coast and Gulf

Coast ports entered its second day on Wednesday with no

negotiations currently scheduled between the two sides, sources

told Reuters.

The lack of progress is raising concerns among those reliant

on shipments that the disruption could be prolonged.

The International Longshoremen's Association union strike

has blocked goods from food to automobile shipments across

dozens of ports from Maine to Texas, which analysts warn will

cost the economy billions of dollars a day.

President Joe Biden's administration has put pressure on

U.S. port employers to raise their offer to secure a deal with

dockworkers to end the strike.

"They made incredible profits, over 800% profit since the

pandemic, and the owners are making tens of millions of dollars

from this," Biden told reporters on Wednesday. "It's time for

them to sit at the table and get this strike done."

Economists have said the strike will not initially raise

consumer prices as companies accelerated shipments in recent

months for key goods. However, a prolonged stoppage will

eventually filter through, with food prices likely to react

first, according to Morgan Stanley economists.

Packaged food maker Conagra bought ingredients ahead

of time and has been working with suppliers for months to

prepare for the strike, CEO Sean Connolly said on Wednesday. "If

it becomes a protracted issue, it will be a bigger issue for

everybody," he said.

More than 38 container vessels were backed up at U.S. ports

by Tuesday, compared with just three on Sunday before the

strike, according to Everstream Analytics.

The ILA, which represents 45,000 port workers, launched its

strike on Tuesday after negotiations with the United States

Maritime Alliance (USMX) for a new six-year contract collapsed.

The union is seeking a $5-per-hour wage hike each year over six

years.

Its leader Harold Daggett is also seeking an end to

automation projects that he says threaten union jobs.

"We are prepared to fight as long as necessary, to stay out

on strike for whatever period of time it takes, to get the wages

and protections against automation our ILA members deserve,"

Daggett said on Tuesday.

The Biden administration wants USMX to offer a richer deal

to dockworkers.

"Foreign ocean carriers have made record profits since the

pandemic, when longshoremen put themselves at risk to keep ports

open. It's time those ocean carriers offered a strong and fair

contract that reflects ILA workers' contribution to our economy

and to their record profits," Biden said in a post on X late on

Tuesday.

He directed his team to monitor for potential price gouging

that benefits foreign ocean carriers, the White House said.

Biden has repeatedly said that he will not intervene to end the

strike.

Morgan Stanley economists said in a late Tuesday note that

the strike could hit growth and raise inflation "but only if it

is long-lasting," noting that the implication for transport

should be limited unless the strike lingers.

The strike, the ILA's first major stoppage since 1977,

affects 36 ports - including New York, Baltimore and Houston -

that handle a range of containerized goods ranging from bananas

to clothing to cars. The walkout could cost the American economy

roughly $5 billion a day, JP Morgan analysts estimate.

BACKUP PLANS

Retailers accounting for about half of all container

shipping volume said they have been implementing backup plans to

minimize the effect of the strike as they head into the winter

holiday sales season.

Isaac Larian, CEO of MGA Entertainment, which makes Bratz

brand dolls, said about 10% to 15% of holiday season toys

haven't been delivered to the United States yet, but otherwise

inventories should be well stocked. He said he is more concerned

about spring 2025, as products need to be shipped in November or

December, dates that would be endangered if the strike lingers.

The National Retail Federation on Wednesday, along with 272

other trade associations, called on Biden's administration to

use its federal authority to halt the strike, saying the walkout

could have "devastating consequences" for the economy.

"The longer the strike action goes on and the longer it

takes the U.S. government to intervene, the deeper the damage

will be to the economy and the longer it will take for ocean

supply chains to recover," said Peter Sand, chief analyst at

shipping data company Xeneta.

(Additional reporting by Jessica DiNapoli and Siddharth Cavale

in New York, Gursimran Kaur, Nilutpal Timsina, Shivani Tanna and

Shubham Kalia in Bengaluru and David Shepardson in Washington;

writing by Richard Valdmanis; editing by Sonali Paul, Mark

Heinrich and Jonathan Oatis)