East Coast port strike looms for first time since 1977. Here's what to know.

Roughly 45,000 dockworkers at every major East and Gulf coast port are girding to strike starting early next week, threatening to close trade gateways that handle about half of all goods shipped in containers in and out of the U.S.

Negotiations between the union representing dockworkers and a shipping industry group representing terminal operators and ocean carriers have been stalled for months, with both sides this week issuing conflicting statements about their willingness to bargain.

Experts say a shutdown could severely hamper the flow of goods and raise shipping costs. Any spike in such expenses could be passed on to consumers just as U.S. inflation normalizes, and even potentially hinder the Federal Reserve as it finally pivots to lowering interest rates.