U.S. President Joe Biden said Wednesday it's time for U.S. port owners to resolve a strike by 45,000 dockworkers halting shipments at U.S. East Coast and Gulf Coast ports.

"The consortium is basically six owners that controlled all the ports from all the way East Coast down around the Gulf, and they made incredible profits, over 800% profit since the pandemic and the owners are making tens of millions of dollars from this," Biden said.

"The last thing they need is to profit off of this. It's time for them to sit at the table and get this strike done," Biden told reporters.