US President Joe Biden has welcomed the agreement reached between US dockworkers and port operators to end a three-day strike that had shut down shipping on the east and Gulf coasts of the United States. The International Longshoremen’s Association (ILA) and the US Maritime Alliance announced a tentative agreement on wages, with the master contract extended until January 15, 2023, to allow for further negotiations on outstanding issues. The strike had begun on Tuesday, impacting 36 ports handling half of the US cargo and resulting in significant disruptions to supply chains.
The tentative agreement includes a wage hike of around 62 percent over six years, with both parties compromising on their initial demands. President Biden praised the progress made in the negotiations, emphasizing the importance of a fair contract for the dockworkers who have worked tirelessly during the COVID-19 pandemic. The president commended both the ILA and the US Maritime Alliance for their efforts in reaching an agreement that would benefit both parties.
The strike had caused significant delays in the unloading of container vessels, with at least 45 ships waiting outside the affected ports. The resolution of the strike is expected to alleviate these disruptions and prevent further losses in the billions of dollars. With the strike now ended, work covered by the master contract will resume immediately, allowing the flow of goods to resume and ensuring a smoother holiday shopping season for consumers across the country.
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