US dockworkers on the East Coast and Gulf of Mexico, from Maine to Texas, have ended a three-day strike that threatened to disrupt trade and inflict significant economic damage. The International Longshoremen’s Association (ILA) and the US Maritime Alliance (USMX) announced in a joint statement that they have extended their previous agreement until January 15th, according to Bloomberg.
Workers will return to their jobs today, and both sides will resume negotiations on a long-term agreement that includes a wage increase of approximately 62% over the next six years, CNN reports. By doing so, the ILA and USMX have gained additional time to resolve outstanding issues without jeopardizing the US economy just weeks before the presidential election, according to the New York agency.
“Today’s framework agreement on record pay and an extension of the collective bargaining process represents a significant step towards a strong contract,” said US President Joseph Biden, as reported by Tanjug.
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Source: Tanjug