Dockworkers at dozens of U.S. ports are digging in for a massive pay increase, seeking to flex their power in a strike that aims to strangle the flow of trade across much of the country.“This is going down in history what we’re doing here,

A port strike has thousands of dockworkers on the picket lines along the East and Gulf coasts​, including New York and New Jersey. CBS News New York's Christine Sloan reports from Port Elizabeth.

President Joe Biden and his administration have signaled to both sides in the high-stakes dockworkers strike that they need to work things out “fairly and quickly,” the White House said in a statement Tuesday.

JPMorgan estimates the economic loss from the shutdown of every major container port from Houston to Miami and New York-New Jersey will be between $3.8 billion and $4.5 billion per day.

Supply chain expert Eric Hoplin joined 'Fox & Friends Weekend' to discuss what is at stake with a possible strike and the broader impact on the American supply chain.