Some 45,000 dockworkers at East and Gulf coast ports are returning to work after their union reached a deal to suspend a strike that could have caused shortages and higher prices if it had dragged on, the Associated Press reports.
The International Longshoremen’s Association is suspending its three-day strike until Jan. 15 to provide time to negotiate a new contract. The union and the U.S. Maritime Alliance, which represents ports and shipping companies, said in a joint statement that they have reached a tentative agreement on wages.
Industry analysts have said that for every day of a port strike it takes four–six days to recover, but they said a short strike of a few days probably won’t gum up the supply chain too badly.
Most retailers had stocked up or shipped items early in anticipation of the strike.
The union’s membership won’t need to vote on the temporary suspension of the strike. Until Jan. 15, the workers will be covered under the old contract, which expired on Sept. 30.
