US Port Strike Ends with Tentative Agreement for 62% Wage Increment.

Longshoremen and port operators in the U.S. have reached a tentative agreement to end a three-day strike that disrupted port operations at Atlantic and Gulf Coast ports. The International Longshoremen’s Association (ILA) and the United States Maritime Alliance, Ltd. (USMX) announced the agreement, which includes a significant wage increase of about 62% for workers. The dispute focused on wage increases and automation, with both parties agreeing to extend the framework agreement until January 15, 2025, in order to continue negotiations on outstanding issues.

The immediate cessation of all work activities and the resumption of work provided for in the framework contract were confirmed in the joint statement issued by ILA and USMX. President Biden praised both sides for reaching the agreement, emphasizing the importance of collective bargaining in building a stronger economy. Despite the wage increase being agreed upon, negotiations will continue on outstanding issues to ensure work stability in the short term.

Port operations are expected to return to normal by Thursday evening, minimizing further delays in cargo handling and shipping. The Biden administration supported collective bargaining as the best way to resolve the dispute, emphasizing the need for port employers to improve their offer. The National Retail Federation welcomed the tentative agreement, urging both sides to work diligently to reach a final agreement by the new deadline of January 15, emphasizing the importance of ensuring a fair outcome for all American families. Transport Secretary Pete Buttigieg thanked everyone involved for prioritizing the country’s needs and ensuring the transportation of essential supplies.

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