East and Gulf Coast Ports Strike Ends with Tentative Deal

U.S. dock workers and port operators have agreed on a tentative deal ending a three-day strike affecting the East and Gulf Coasts. The agreement includes a significant wage increase of around 62%, according to sources. This development marks a crucial moment for shipping operations in these regions.

U.S. dock workers and port operators have reached a tentative agreement to end a three-day strike, the International Longshoremen's Association announced on Thursday. The strike had previously shut down shipping activities across the U.S. East Coast and Gulf Coast.

The agreement, which promises a wage hike of approximately 62%, was confirmed by a source familiar with the negotiations as reported by Reuters. This settlement is expected to significantly impact the economy by resuming vital port activities.

This development comes as a relief to supply chains and industries dependent on these critical shipping routes. The strike had disrupted operations, highlighting the importance of labor negotiations in maintaining economic stability.

(With inputs from agencies.)