How a port strike could affect consumers. What you need to know

New Yorkers could face shortages and higher retail prices as they begin their holiday shopping as the first large-scale disruption in nearly 50 years began affecting ports from Maine to Texas on Tuesday.

The International Longshoremen's Association (ILA) members' strike involving tens of thousands of longshoremen on the Atlantic and Gulf Coasts began at 12:01 a.m. on Tuesday, October 1, when the union rejected the proposal of employers group the United States Maritime Alliance ( USMX) final proposal submitted Monday that fell short of the wages and anti-automation protections that ILA members are seeking.

“USMX launched this strike when it chose to hold on to foreign ocean carriers that generate billions of dollars in profits at United States ports, but the American longshoremen of the ILA who do the work that brings them their wealth, “not to be compensated,” ILA President Harold Daggett said in a Facebook post on Tuesday. “We are prepared to fight as long as necessary, to stay away from the strike for as long as necessary, to get the wages and protections from automation that our ILA members deserve.”

Here's how the strike will impact consumers in New York.

Which items are affected by the port strike?

Each day of the strike could cost the economy up to $5 billion a day as imports and exports are blocked, USA TODAY and Reuters reported.

According to Reuters, big-name retailers such as Walmart and Costco have implemented backup plans for the holiday selling season, introducing Halloween and Christmas merchandise early to avoid strike-related disruptions. However, companies incur additional costs for shipping and storing the products.