Both sides involved in the west coast labor dispute reached a tentative deal Friday evening, likely ending a rocky nine-month-long negotiation process that jammed the flow of shipments across the Pacific.
The Associated Press reported that union leaders agreed on terms for a five-year contract, but that the deal still awaits approval from the union’s 13,000 members.
The last-minute deal comes as the White House increased pressure on both parties to end the dispute that, by some reports, could cost the US economy as much as $2 billion a day in the case of a shutdown. Earlier this week, Secretary of Labor Tom Perez, who flew to San Francisco to help negotiate the terms of the contract agreement, placed a Friday deadline on both parties to come to an agreement.
Even if the agreement is confirmed tomorrow, it will likely take some time before the ports return to business as usual. As of Friday morning, there were a reported 50 stalled ships on the offshores of the Pacific, waiting to unload cargo.More updates to follow.
By Shirin Ghaffary - February 12, 2015
Update 02/13/2014, 2:34 PST: Auto manufacturers Honda and Toyota are adjusting production due to the port strike. Starting Monday, will reduce production at plants. Honda will reduce production at its Ohio, Indiana and Ontario plants while Toyota...Read more
By Shirin Ghaffary - February 17, 2015
West Coast ports reopened today after a five day shutdown, as Labor Secretary Tom Perez meets with representatives in San Francisco to find a long term end to the nine month dispute.
The White House is ramping up its pressure to end the cargo...Read more
By Shirin Ghaffary - February 26, 2015
The West Coast port dispute might be over for now, but it’s left a trail of backed up cargo, and more importantly, distrust in the network of Pacific ports that account for more than half of shipments coming into the United States.
Last Friday,...Read more