In an unexpected turn of events, East Coast dock workers, often overlooked in everyday life, have gone on strike. Although only 45,000 workers are involved, their impact becomes immediately apparent: every day of the strike is costing the U.S. economy a staggering $5 billion, leading to a backlog of nearly half of all imported goods.

This timing is precisely what union leaders orchestrating the dock workers’ strike had in mind. The strike follows the devastation of Hurricane Helen, the most catastrophic storm in 50 years, and coincides with the lead-up to the quadrennial presidential election. The carefully calculated timing is meant to exert maximum pressure; following a disaster, the public feels the pinch even more acutely, and both parties are wary of alienating workers.

So why are the dock workers striking? The primary issues at stake are wages and benefits. However, it’s worth noting that dock workers in the U.S. already earn some of the highest salaries among blue-collar laborers. At the Port of New York, half of the longshoremen make at least $150,000 a year. The head of the International Longshoremen’s Association (ILA), who is leading the strike, reportedly brings in over $900,000 annually, owns a yacht, and drives a Bentley. Tech billionaire Elon Musk even remarked on social media that this individual has more yachts than he does.

In the current labor negotiations, the employers initially offered to raise salaries by more than 50% over the proposed six-year contract. However, the union rejected this offer, instead demanding annual raises that would total a staggering 77% over the life of the contract, with hourly wages climbing from $39 to $69.

With the elections looming and the economy especially vulnerable, it’s likely that the Biden administration will support the workers, pressuring employers to significantly raise wages.

But if dock workers receive these pay increases, who will foot the bill? Ultimately, it will fall on ordinary consumers.

McDonald’s provides a notable case study. After a series of protests and strikes, the fast-food giant raised its workers’ hourly wages from under $5 to between $11 and $15, with some areas in California seeing rates as high as $20. Concurrently, the price hikes at McDonald’s have outpaced the official inflation rate by more than threefold, transforming once-affordable meals into luxury items that some consumers can no longer afford, while others have chosen to skip them altogether.

Labor and capital are inextricably linked. If McDonald’s business suffers, workers may find themselves without jobs. Similarly, if importers are unable to bear the financial strain and reduce their shipments, where would the dock workers find opportunities to earn $69 an hour?