Tentative deal reached between union dockworkers and port employers on the East Coast and Gulf ports.
On Wednesday, the International Longshoremen's Association (ILA) and the U.S. Maritime Alliance (USMX) reached a tentative agreement on a new six-year master contract following a contentious negotiation.
The deadline to reach an agreement was Jan. 15.
The ILA will hold full wage scale meetings to review the deal and then conduct a ratification vote. No date was specified for the full wage scale meeting. The USMX membership vote details were not available at press time.
Both sides agreed to postpone the ratification of the new six-year master contract and continue operating under the current contract until a scheduled vote.
The ILA and USMX have reached a tentative agreement on a new six-year ILA-USMX Master Contract, which will protect current ILA jobs and establish a framework for implementing technologies that will create more jobs while modernizing East and Gulf coasts ports. This agreement will make these ports safer and more efficient, and create the capacity they need to keep our supply chains strong.
"This agreement benefits both parties by creating ILA jobs, helping American consumers and businesses, and maintaining the US as a leading global market."
The new tentative agreement will not be released to the ILA rank-and-file-members and USMX members for review and approval until the final document is ready.
Business News
You might also like
- SpaceX's Starship is grounded by the FAA after a mid-flight explosion, causing property damage on Turks and Caicos.
- The unparalleled women's basketball league commences on Friday. Discover all the details here.
- PepsiCo faces allegations of price discrimination from the FTC, which claims it is increasing costs for consumers.
- The imposition of tariffs by Trump has prompted China to accelerate the shipment of goods to the US.
- Medicare drug price negotiations include Ozempic in the next round. Here are the 15 medications.