A brief strike by East Coast dockworkers, which had halted operations at numerous ports, concluded late Wednesday. The International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) announced a tentative agreement on wages and an extension of their master contract. This strike, the first by the ILA in 50 years, involved 45,000 union members who stopped work, impacting container and ro-ro cargo handling at 36 ports across 14 major maritime hubs stretching from New England to Texas.

Speculation about a settlement emerged on Thursday, following criticism from President Joe Biden directed at employers for not engaging in good-faith bargaining and urging a return to negotiations. The resolution of this dispute removes a significant potential obstacle for Democrats with the general election approaching rapidly.

According to sources close to the negotiations, the new agreement was finalized quickly. It includes a substantial pay increase of 61%, amounting to $4 per hour over the six-year duration of the pact. The master contract has also been extended to January 15, 2025, providing an opportunity for both parties to address remaining outstanding issues.

In a joint statement, the ILA and USMX confirmed that all current job actions would cease immediately and that work covered by the master contract would resume. The exact timeline for the full resumption of operations was not specified.

President Biden released a statement from the White House, commending the ILA and USMX for their efforts in reopening the East Coast and Gulf ports. He highlighted the tentative agreement on a record wage increase as a positive development.