It appears that this week’s negotiations between the ILA and USMX have come to a successful conclusion and the US East & West coast port strike has been averted.

Talks between the two parties restarted on Tuesday and were seen as the last chance of finding a solution, before overnight reports have indicated that a ‘tentative’ agreement has been reached on all items for a new six-year master contract.

For now, both parties have agreed to continue under the current contract until the union meets again and the ILA can schedule a ratification vote.

Workers ended their strike in October after three days, following a wage deal being agreed. However, they only returned to work until January 15th to allow time for the remaining contract issues to be finalised, which now looks to have been completed.

Naturally, a strike of this magnitude would have had a detrimental effect on trade as ocean freight services would have come to a standstill. 

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