For the first time since 1977, dockworkers at the East Coast and Gulf Coast ports are on strike.

The dispute is between the International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX), representing the ports and ocean carriers.

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The contract between the two expired on Tuesday, October 1, at midnight.

At 12:01 am, thousands of workers joined the picket lines at ports in Baltimore, Boston, Charleston, Jacksonville, Miami, Houston, Mobile, New Orleans, New York/New Jersey, Norfolk, Virginia, Philadelphia, Savannah, Tampa, and Wilmington.

According to CBS News, this strike could devastate the economy, costing billions daily. That's right, per day.

CBS is reporting that the USMX has stated that there is hope this won't be a lengthy debate.

Experts say that even a two—to three-day strike will cause a two-week supply disruption. If this goes three weeks, the country will not be able to recover until the end of the year.

Supplies aren't the only concern. Cost is something to worry about.

Less supply equals higher demand, which means a more significant cost for you.

Which supplies will be affected by the port strike?

Experts say automobiles will be the first supply chain issue that is noticeable to us.

The longer the strike persists, the fewer new cars will be on the lot. It may be worth calling your dealer to confirm if you expect a new car this week or next.

READ MORE: These are the Grocery Stores the Tri-State Desperately Needs

Say it ain't so. Your booze consumption may be disrupted during this strike, especially if you enjoy imported spirits.

CBS says 80% of imported beer, wine, whiskey, and scotch, as well as 60% of rum, arrive at East Coast and Gulf Coast ports.

Better find a better way to get your magnesium.

More than 75% of U.S. bananas arrive at ports handled by the International Longshoremen's Association, according to the Farm Bureau.

Bananas aren't the only fruits that will be affected.

Almost 90% of imported cherries come from the ports of striking dock workers.

Add hot peppers, canned foods, and chocolate to the list. You were ok until I said chocolate, right?

The shortage of toilet paper is simply due to panic buying or consumers' reactions to the port strike.

Some areas are already reporting paper towel and toilet paper shortages.

There's no cause for concern...yet. If the strike persists for many weeks, supply shortages will occur across many products.

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