US port workers, operators reach deal to end strike immediately

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US port workers, operators reach deal to end strike immediately

STORY: U.S. dock workers and port operators reached a deal Thursday to end a crippling three-day strike.

The stoppage has shut down shipping on the East Coast and Gulf Coast.

It’s the biggest such walkout in nearly half a century, with analysts putting the cost to the economy at up to $5 billion per day.

In all, 36 ports were affected, including New York, Baltimore and Houston.

Now Reuters sources say the two sides have agreed a pay hike of 62% over six years.

The ******* States Maritime Alliance group of employers had previously offered close to 50%.

In a statement, the union and port operators said they would now go back to the bargaining table to hammer out the remaining details.

Among the key issues that remain is automation, which workers say will lead to job losses.

International Longshoremen’s Association boss Harold Daggett wants cargo shippers to stop projects that threaten employment.

He says shipping lines like Maersk have refused to heed the demand.

Now a deal to end the strike will be a relief for President Joe Biden.

He had sided with the dockers, calling on the shipping industry to share the bumper profits it has made in recent years.

Biden had resisted calls from business groups and *********** lawmakers to use federal powers to end the stoppages, which they said threatened chaos for consumers.

The strike has left at least 45 container vessels waiting to unload, and came just as southeastern states were struggling for supplies following a deadly hurricane.

On Thursday, the White House convened a virtual meeting of shipping line bosses, pressing them to agree a quick deal following the storm.

By midday, the shippers had agreed to make an improved pay offer.

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