Longshoremen and port operators in the U.S. have reached a tentative agreement to end a three-day strike that disrupted port operations. The agreement includes a significant wage increase and an extension of the framework agreement until 2025. President Biden praised the parties for their efforts, emphasizing the importance of collective bargaining for a stronger economy.
The ILA has outlined demands necessary to resume negotiations with USMX following a deemed misleading offer. The first coastwide strike in decades impacts U.S. container imports and exports. Core issues include wage increases and protection against automation. The union stresses fair compensation, job security, and opposition to existing automation language.
The ILA has launched a strike at U.S. ports, alleging that ocean carriers are overcharging customers with rates as high as $30,000 per container. Xeneta data contradicts this claim, showing lower average spot rates. Chief Analyst Peter Sand criticized the ILA for misinformation, urging a diplomatic resolution to avoid economic damage and supply chain disruption.
