Affected ports included some of the busiest ports in the U.S., including New York, Georgia, and Texas. Experts estimate that they handle more than a third of U.S. exports and imports.
Businesses were bracing for the possibility of a prolonged shutdown that could disrupt global trade and the U.S. economy.
Many consumers were panicking and stockpiling some items, such as baby formula and toilet paper.
U.S. President Joe Biden applauded the tentative agreement in a statement Thursday evening, calling it “an important step forward toward a strong deal.”
“Congratulations to ILA dockworkers, who deserve a strong contract after sacrificing so much to keep our ports open during the pandemic,” Biden said.
“And I applaud the port operators and carriers who are members of the US Maritime Alliance for working hard and putting forward strong proposals.”
Biden cited the need to keep ports open to “ensure the availability of critical supplies” for those affected by Hurricane Helen, which killed more than 200 people in the southeastern United States.
Under the 2018 contract, which expires Monday, dockworkers received a base hourly wage of $20 to $39 as well as other benefits, including royalties related to container transport.
ILA President Harold Daggett demanded that the companies agree to increase hourly wages by $5 per year for the life of the contract.
The union, which has about 47,000 active members, is also seeking protections against automation, according to federal filings.
