The Longshore union and employers of 22,000 dockworkers at U.S. West Coast ports on Wednesday said they have reached a tentative deal on a new six-year contract, ending 13 months of talks and easing supply chain worries.
The National Retail Federation (NRF) said it was “relieved”. President and CEO Matthew Shay said: “On behalf of the retail industry, we are relieved to see the parties have come to a tentative mutual agreement on a long-term contract … ending over a year of negotiations and uncertainty. A new agreement provides stability to the supply chain and assurance to the millions of businesses and employees who rely on smooth and efficient operations from the West Coast ports.
The details of the deal will not yet be released, and it seems likely that the two sides will still have some issues to thrash out.
A statement from the ILWU and PMA said the agreement was still subject to ratification by both sides.
