Port workers reach tentative deal to end strike
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Dockworkers gather at the Bayport Container Terminal in Seabrook, Texas, on Oct. 1, 2024. Photo: Mark Felix/AFP via Getty Images
The union for striking dockworkers said Thursday evening they'll return to work at 14 major ports stretching from Maine to Texas, after reaching a tentative deal with the United States Maritime Alliance.
Why it matters: There were concerns that if the first port strike on the East Coast since 1977 had continued it could have hit supply chains and driven shortages and higher prices, per Axios' Emily Peck.
- The strike had impacted some of the busiest ports in the U.S., including in New York, Texas and Georgia.
Driving the news: The International Longshoremen's Association and the USMX confirmed in a joint statement that the union first shared in a Facebook post that the strike was ending after three days.
- The union and the USMX have reached an agreement on wages and extending the Master Contract until Jan. 15 "to return to the bargaining table to negotiate all other outstanding issues," per the post.
- "Effective immediately, all current job actions will cease and all work covered by the Master Contract will resume."
By the numbers: The tentative agreement on a wage increase was not immediately disclosed, but it's widely reported to have been set around 62% over six years to roughly $63 per hour.
- The union had previously pushed for a 77% raise over six years and USMX had offered a 50% wage increase.
State of play: President Biden, who on Tuesday called for the USMX to present the union with a fair offer, issued a statement applauding the two sides for "coming together to reopen the East Coast and Gulf ports."
- Biden in his Thursday statement thanked "the union workers, the carriers, and the port operators for acting patriotically to reopen our ports and ensure the availability of critical supplies for Hurricane Helene recovery and rebuilding."
- He added, "Collective bargaining works, and it is critical to building a stronger economy from the middle out and the bottom up."
- Biden told reporters at Joint Base Andrews on Thursday evening: "We've been working hard on it. With the grace of God, it's going to hold."
Thought bubble, via Axios' Dan Primack: The strike had threatened to cause enough economic damage to impact the presidential election. Now it's the next president's problem.
Editor's note: This article has been updated with new details throughout.
