Days after tens of thousands of longshoreman along the East and Gulf Coasts walked out, their union and their bosses reached a tentative agreement on wages.
The strike that snarled East Coast and Gulf Coast ports is suspended. The dockworkers' union and the ocean carriers and port operators reached a tentative agreement -- ending the three-day standoff.
The end of the port strike that shut down shipping on the East and Gulf coasts after three days comes as a relief to the auto industry, which had feared supply bottlenecks that could last months.
Striking dockworkers reached a tentative agreement with port operators on Thursday for a 62 percent wage increase and have extended their contract through Jan. 15 to bargain over remaining issues.