U.S. port workers and operators say they have reached a deal to end East Coast strike immediately

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U.S. port workers and operators say they have reached a deal to end East Coast strike immediately
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U.S. port workers reach tentative labour agreement that includes wage hike of around 62 per cent over six years

U.S. dock workers and port operators have reached a tentative deal that will immediately end a three-day strike that has shut down shipping on the U.S. East Coast and Gulf Coast , the International Longshoremen’s Association union and the United States Maritime Alliance said on Thursday. The tentative agreement is for a wage hike of around 62 per cent over six years, a source familiar with the matter told Reuters.

Both sides said in a statement that they would extend their master contract until January 15, 2025, to return to the bargaining table to negotiate all outstanding issues. At least 45 container vessels that have been unable to unload were anchored outside the strike-hit East Coast and Gulf Coast ports by Wednesday, up from just three before the strike began on Sunday, according to Everstream Analytics.

U.S. President Joe Biden’s administration has sided with the union, putting pressure on the port employers to raise their offer to secure a deal and citing the shipping industry’s bumper profits since the COVID-19 pandemic.

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