RALEIGH, NC (WTVD) — Shipping ports along the Gulf and East Coast are hours away from a work stoppage after two unions continued their contract dispute.

The International Longshoreman’s Association (ILA) and the United States Maritime Alliance (USMX) are at an impasse. Their current six-year contract expires at midnight on Tuesday.

The ILA is asking for a 77% wage increase over the next six years and limits on automation, while the USMX is offering a 40% wage increase.

If an agreement is not met, the dispute will cause a work stoppage at ports from Texas to Maine, including the Port of Wilmington.

“The Ocean Carriers represented by USMX want to enjoy the rich billion-dollar profits they make by 2024, while offering ILA Longshore Workers an unacceptable wage package that we reject,” the ILA said in a written statement on its website. “Meanwhile, ILA-dedicated longshore workers continue to be crippled by inflation due to USMX’s unfair pay packages.”

On Monday, the Port of Wilmington was open until 6 p.m. and material offloading was agreed to until 11:59 p.m.

If no agreement is reached, all ports will be closed from midnight.

“It’s a trickle-down effect,” says Tim Subelink, owner of Home Accent Furnishings. He and his wife have been in business in Raleigh on Hillsborough Street for ten years.

They get a lot of their inventory from shipments that come through Wilmington. They use a seller from Virginia who receives products from Wilmington.

If there is a disruption at the ports, the product will not flow to the supplier. In turn, the Subelinks would eventually be affected.

“(I) pray they don’t close,” Subelink said.

The longer the standstill continues, the greater the backlog of ships waiting to unload.

“The ships that are there today can’t get out. There’s ships coming in tomorrow that can’t get in. On the 2nd, ships are coming in. On the 3rd of October, ships are coming in. And they’ll just to drop anchor, he said.

While there is no immediate impact on customers, Subelink says this is no reason to believe that everyone has clarity.

“Again, it depends on how long the ports are closed and how much inventory is currently in stock. It could be a month before we actually see a problem,” he said.

Economic experts predict the shutdown could cost the U.S. economy billions of dollars.