WASHINGTON (NEXSTAR) — It’s the third day of a dockworker strike that could have wide ranging impacts on the U.S. supply chain and economy, but President Joe Biden says he believes negotiators are making progress towards a deal. 

He made the comments on Thursday morning when reporters asked him about the strike. 

“I think we’re making progress,” Biden said. “We’ll find out soon.”

The International Longshoremen’s Union wants port companies to give workers pay raises and ban automation of their jobs. 

“Those greedy companies are making billions of dollars, and they don’t want to share. That’s why we’re out here right now fighting for a contract,” International Longshoremen’s Union Harold J. Dagget said. 

If the strike stretches on it could cause major shortages of essential goods, from food to car parts. 

Transportation Secretary Pete Buttigieg says he and other administration officials are talking with both sides to try to facilitate a deal. 

“We’re putting those relationships and those tools to work because it is so vital to get this resolved.” Buttigieg said. “The sooner this is addressed the better.” 

He also insists a deal is within reach. 

“I actually believe the economic difference between the workers’ side and the company’s side are absolutely something that can be bridged,” Buttigieg said. 

The Biden administration could use a federal law to put the strike on pause and force the strikers back to work for a “cooling off period.” 

Senator Bill Cassidy (R-La.) argues it’s past time for the Biden administration to step in, even as he says the workers have some legitimate concerns. 

“Those can be worked out, and that’s why I’m asking the Biden-Harris administration call for that cooling off period. We don’t need more inflation,” Cassidy said. 

President Biden has made it clear he will not use that law. 

“The way to resolve this is at the bargaining table and that’s what we are engaging all of the parties to do. That’s the way to reach a fair and reliable and durable solution,” Buttigieg said. 

Both sides have moved from their initial offers but haven’t returned to bargaining yet.