


Dockworkers' union reach agreement, suspend port strike until January | Fox Business





Fox Business Personal Finance 
                  Mortgages
                
                  Student Loans
                
                  Credit Cards
                
                  Personal Loans
                
                  Savings
                
                  Insurance
                
                  401k
                
                  Retirement
                
                  Tax Planning
                Economy 
                  Government Spending
                
                  Money & Policy
                
                  Small Business
                Markets 
                  Stocks
                
                  US Markets
                
                  Cryptocurrency
                
                  Futures & Commodities
                
                  Bonds
                
                  ETFs
                
                  Business Leaders
                
                  Industries
                
                  Retail
                
                  Pre-Markets
                
                  Mutual Funds
                Watchlist Lifestyle 
                  Entertainment
                
                  Rich & Famous
                
                  Travel
                
                  Cars
                
                  Airplanes
                
                  Food &  Drinks
                
                  Arts
                Real Estate 
                  Personal Real Estate
                
                  Commercial Real Estate
                
                  Luxury Properties
                Tech 
                  Digital
                
                  Social Media
                
                  Gadgets
                
                  Business Tech
                
                  Healthcare Tech
                
                  Future Tech
                
                  AI
                
                  Space
                Video Podcasts  More Expand / Collapse search Login Watch TV ☰    Sports NFLNBAMLBNASCARBoxingSoccerGolfTennisOpinion About Channel FinderJobsTerms of UseUpdated Privacy PolicyFAQMedia RelationsCorporate InformationClosed Captioning PolicyAccessibility StatementFox NewsFox NationFox Business GoApps & Products Facebook Twitter Fox Business Updated Terms of UseNew Privacy PolicyYour Privacy ChoicesHelpClosed Captioning Policy 
          Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset.
          Powered and implemented by FactSet Digital Solutions. 
            Legal Statement.
           This material may not be published, broadcast, rewritten, or redistributed. ©2025 FOX News Network, LLC. All rights reserved. FAQ - New Privacy Policy   Economy Published 
          October 3, 2024 7:00pm EDT
           Dockworkers' union reaches tentative agreement, will suspend port strike until January The International Longshoremen’s Association represents 45,000 striking U.S. workers  Facebook Twitter Comments Print Email  By  Bradford Betz  FOXBusiness     close      video  Should Biden invoke the Taft-Hartley act amid the port strike? 'Kudlow' panelists Steve Moore and Michael Faulkender react to dockworkers striking over pay and automation. Striking U.S. dockworkers will return to work Friday after reaching a tentative agreement with employers on an improved wage offer. The conditional offer was for a 62% wage increase, FOX Business has learned. The offer is on the table for the next 90 days. If no deal is reached within that timeframe, the proposed wage hike will be pulled from the table.  The International Longshoremen’s Association, which represents 45,000 striking U.S. workers, said the union and USMX have reached a "tentative agreement on wages and have agreed to extend the Master Contract until January 15, 2025 to return to the bargaining table to negotiate all other outstanding issues."  DESANTIS TAKES MATTERS INTO HIS OWN HANDS AS ‘UNACCEPTABLE’ STRIKE THREATENS PRODUCT SUPPLY     FILE: The Port of Baltimore is seen as longshoremen with the International Longshoremen’s Association’s (ILA) walk off the job on October 01, 2024 in Baltimore, Maryland.  (Photo by Kevin Dietsch/Getty Images / Getty Images)"Effective immediately, all current job actions will cease and all work covered by the Master Contract will resume," the union said in a statement. Dockworkers at dozens of ports in the U.S. went on strike Tuesday for the first time in nearly 50 years over better wages and the use of automation.     Harold J. Daggett, president of the International Longshoremen's Association speaks as dockworkers at the Maher Terminals in Port Newark are on strike on October 1, 2024 in New Jersey.  (BRYAN R. SMITH/AFP via Getty Images / Getty Images)The U.S. Maritime Alliance (USMX), which represents the port employees, had previously raised its offer to a 50% increase in wages over the next six years.     FILE: A container ship sits anchored in New York Harbor as it waits for the Port of Newark to re-open after members of the International Longshoremen’s Association, or ILA, began walking off the job yesterday at 12:01 a.m. ET on October 02, 2024 in S (Spencer Platt/Getty Images / Getty Images)Despite mounting pressure, President Biden said over the weekend he would not intervene, saying he doesn't "believe in Taft-Hartley," a reference to 1947 legislation that curtailed unions. CLICK HERE TO GET FOX BUSINESS ON THE GOThe strike raised fears of disruptions in the supply chain. An analysis by JPMorgan estimated the daily cost of a port strike by East and Gulf Coast port workers would cost the U.S. economy between $3.8 billion and $4.5 billion per day as operations slow. FOX Business' Breck Dumas contributed to this report.           U.S. Stock Market Quotes       Advertisement  Advertisement  Advertisement





Arrives Weekly

Get Our Newsletter
Get a brief on the top business stories of the week, plus CEO interviews, market updates, tech and money news that matters to you.

We've added you to our mailing list.





Subscribe

By clicking subscribe, you agree to the Fox News Privacy Policy and Terms of Use, and agree to receive content and promotional communications from Fox News. You understand that you can opt-out at any time.
           


    Personal Finance MortgagesStudent LoansCredit CardsPersonal LoansSavingsInsurance401kRetirementTax PlanningEconomy Government SpendingMoney & PolicySmall BusinessMarkets StocksUS MarketsCryptocurrencyFutures & CommoditiesBondsETFsBusiness LeadersIndustriesRetailPre-MarketsMutual FundsWatchlist Lifestyle EntertainmentRich & FamousTravelCarsAirplanesFood & DrinksArtsReal Estate PersonalCommercialLuxury PropertiesTech DigitalSocial MediaGadgetsBusiness TechHealthcare TechFuture TechAISpaceSports NFLNBAMLBNASCARBoxingSoccerGolfTennisOpinion Video About Channel FinderJobsTerms of UseUpdated Privacy PolicyFAQMedia RelationsCorporate InformationClosed Captioning PolicyAccessibility StatementFox NewsFox NationFox Business GoApps & Products Facebook Twitter RSS Fox Business Updated Terms of UseNew Privacy PolicyYour Privacy ChoicesHelpClosed Captioning Policy 
            Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by Factset.
            Powered and implemented by FactSet Digital Solutions. 
            Legal Statement.
         This material may not be published, broadcast, rewritten, or redistributed. ©2025 FOX News Network, LLC. All rights reserved. FAQ - New Privacy Policy 








"We're gonna wait till after the election."