Reported 2 days ago
The strike at major US ports on the East and Gulf coasts has been resolved after three days, with the International Longshoremen’s Association and the US Maritime Alliance reaching a tentative agreement for a 62% wage increase. The parties extended the existing contract until January 15, 2025, as they continue negotiations. President Biden highlighted this as significant progress, despite ongoing concerns about automation's impact on jobs. The strikes may have cost the economy about $15 billion, but the early resolution is expected to benefit the maritime industry.
Source: YAHOO