The strike that had captured the nation's attention and threatened the U.S. supply chain as well as the economy at large is now over. The International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) have reached a tentative wage deal.
On Tuesday workers along the entire East Coast and Gulf Coast, walked off the job in a bid for a better contract and it looks like that is what they have earned.
The USMX, which represents shipping companies and port authorities, confirmed that a tentative agreement was made. According to a report from the Associated Press, the new deal will offer longshoremen a 62% pay bump over the six year length of the counteract. Before this strike started the USMX had been offering a smaller 50% raise and the ILA had been asking for a larger 77% raise.
The three-day work stoppage had already raised concerns about potential supply shortages across various industries. Products like alcohol, chocolate, and fruits including bananas and cherries were expected to be impacted. In Delaware, CoastTV reported that some grocery stores were already seeing a run on toilet paper, though domestic production meant those supplies were unlikely to be affected by the strike.
Before Thursday's agreement, Delaware Farm Bureau President Bill Powers expressed concern over the strike's potential impact on farmers. In a press release, Powers said, "Farmers have already faced a challenging year and we can't afford another setback. Prices are low and could fall further, which would be devastating to producers."
Until an official and final agreement can be drafted the union has agreed to extend their existing and now expired expired contract until January 15. The 50,000 members of the union will get back to work on Friday with plenty of cargo to unload. Ships have been lined up outside impacted ports for days with nowhere to go, just waiting for a deal to get done.
The tentative deal must still be ratified by ILA members before it can take effect.