Strikes in the USA have been resolved
As of Tuesday, October 1st, strikes occurred in fourteen major ports along the East Coast of the USA. However, a tentative agreement has now been reached between the International Longshoremen's Association (ILA) and employer representatives.
On Thursday evening, October 3rd, both parties reached an agreement on wages, extending the social accord until January 15th. According to a joint statement, negotiations on other outstanding issues will resume soon.
This was the first strike led by the ILA since 1977. Back then, the strike lasted over 40 days, which initially led to expectations that this one could also continue for several weeks.
Approximately half of the container traffic in the US’s foreign trade passes through the affected ports. As a result, the impact of the strike was immediately noticeable, costing hundreds of millions of dollars per day.
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