The union representing 45,000 dock workers on the U.S. East and Gulf Coasts and their employers on Wednesday said they reached a tentative deal on a new six-year contract, averting further strikes that could have snarled supply chains and taken a toll on the U.S. economy.
The International Longshoremen's Association and the United States Maritime Alliance employer group, in a joint statement, called the agreement a "win-win."
The deal includes a resolution in automation, which had been the thorniest issue on the table.
Terms of the deal were not disclosed.
The talks had been extended until January 15 to hammer a deal on automation.
Shipping industry executives, customers and analysts had been concerned that the parties would be unable to overcome their impasse, leading to a second ILA strike just days before President-elect Donald Trump's January 20 inauguration.
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