Port strike ends as workers agree to tentative deal on wages and contract extension

Port strike ends as workers agree to tentative deal on wages and contract extension


A striking worker holds up a sign in front of the Bayport Container Terminal in Seabrook, Texas, on October 3, 2024. The International Longshoremen’s Association (ILA), 85,000 members strong, has launched its first strike since 1977 after weeks of deadlocked negotiations over a six-year labor agreement. 

Mark Felix | AFP | Getty Images

The union for U.S. dockworkers and the United States Maritime Alliance have agreed to a tentative deal on wages and have extended their existing contract through January 2025 to provide time to negotiate a new contract.

The move ends a strike that had snarled East Coast and Gulf Coast ports since the beginning of the week and threatened U.S. supply of fruits, automobiles, and other goods.

“The International Longshoremen’s Association and the United States Maritime Alliance, Ltd. have reached a tentative agreement on wages and have agreed to extend the Master Contract until January 15, 2025 to return to the bargaining table to negotiate all other outstanding issues,” The International Longshoremen’s Association and the United States Maritime Alliance said in a joint statement.

This is breaking news. Please refresh for updates.



Source

Goldman’s David Solomon surprised by ‘benign’ market reaction to Iran war
World

Goldman’s David Solomon surprised by ‘benign’ market reaction to Iran war

David Solomon, CEO Goldman Sachs, speaking on CNBC’s Squawk Box at the World Economic Forum in Davos, Switzerland on Jan. 22nd, 2026. Oscar Molina | CNBC Goldman Sachs‘ Chairman and CEO David Solomon said financial markets have had a surprisingly “benign” reaction to the Iran war, as the conflict enters its fifth day. The Goldman […]

Read More
CNBC Daily Open: Markets take a beating despite Trump’s reassurances
World

CNBC Daily Open: Markets take a beating despite Trump’s reassurances

U.S. President Donald Trump takes questions from the media during a bilateral meeting with German Chancellor Friedrich Merz in the Oval Office of the White House on March 03, 2026 in Washington, DC. Win Mcnamee | Getty Images What you need to know today South Korea’s Kospi recorded its worst day on record, plunging 12% on […]

Read More
European markets set for mixed open as traders track Middle East turmoil
World

European markets set for mixed open as traders track Middle East turmoil

Traders work at the New York Stock Exchange on March 2, 2026. NYSE LONDON — European stocks are expected to open in mixed territory on Wednesday as markets continue to track the war in the Middle East. The U.K.’s FTSE index is seen opening 0.3% higher, Germany’s DAX and France’s CAC 40 flat and Italy’s FTSE […]

Read More