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The International Longshoremen’s Association (ILA) has agreed to suspend the three-day strike along the East Coast until Jan. 15 in order to provide time to negotiate a new contract.
The union agreed to the suspension after it reached a tentative agreement on wages with the U.S. Maritime Alliance, which represents ports and shipping companies, both parties said in a joint statement, according to the Associated Press.
The National Retail Federation president and CEO Matthew Shay, who was supportive of an ending to the strike released a statement following the tentative strike agreement.
“The decision to end the current strike and allow the East and Gulf coast ports to reopen is good news for the nation’s economy,” Shay says. “It is critically important that the International Longshoremen’s Association and United States Maritime Alliance work diligently and in good faith to reach a fair, final agreement before the extension expires. The sooner they reach a deal, the better for all American families.”
