The International Longshoremen's Association has agreed to suspend its three-day strike until January 15, allowing time for negotiations on a new contract, following a wage offer boost from ports.
The tentative agreement included a wage increase from approximately 50% over six years to 62%, but it still needs ratification from union members.
Industry analysts remarked that while any port strike could cause recovery delays, a short three-day strike is unlikely to severely disrupt the supply chain.
The settlement extends negotiations past the election date, which serves as a strategic advantage for the Biden-Harris administration amidst potential economic repercussions.
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