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global capital markets limited (530263) ✌️【Financial Planning】✌️ Expert analysis of global stock trends, futures data, and real-time stock market quotes to help you plan your next investment move. A potentially crippling strike up and down America’s East and Gulf Coasts has been avoided – at least for now – after longshoremen and the shipping and port companies reached a tentative deal on a new contract Wednesday.

global capital markets limited (530263) ✌️【Financial Planning】✌️ Expert guidance on stock market trends and real-time updates on stock indices, futures, and exchange rates. Make well-informed decisions and plan the best investment strategies for capital growth. The United States Maritime Alliance, the group representing ship lines and port and terminal operators, which uses the acronym USMX, and the International Longshoremen’s Association (ILA), a union which represents 50,000 members who fill 25,000 jobs spread between three dozen locations at 14 port authorities from Maine to Texas, jointly announced that they agreed on a six year deal Wednesday. The deal is not complete until it is ratified by the union’s membership.

“We are pleased to announce that ILA and USMX have reached a tentative agreement,” the two sides said in a joint statement. “This agreement protects current ILA jobs and establishes a framework for implementing technologies that will create more jobs while modernizing East and Gulf coast ports – making them safer and more efficient, and creating the capacity they need to keep our supply chains strong.”

“This is a win-win agreement that creates ILA jobs, supports American consumers and businesses, and keeps the American economy the key hub of the global marketplace, the two sides added.”

global capital markets limited (530263) ✌️【Financial Planning】✌️ Free expert predictions on stock trends and real-time data to help you make informed decisions and grow your wealth steadily. The ILA and USMX reached a deal in October on wages, which increased hourly pay by 10% in the first year and 62% over the six-year tentative deal. That ended a three-day strike. Workers returned to work and negotiators were sent back to the table to work out the rest of the contract. Negotiators met on Tuesday for the first time since mid-November.

global capital markets limited (530263) ✌️【Financial Planning】✌️ Accurate real-time market data and expert stock predictions for profitable investment opportunities in global markets. Wednesday’s deal is agreement on all other items including automation, which was a key issue for the union who believed jobs would be lost.

global capital markets limited (530263) ✌️【Financial Planning】✌️ Expert stock predictions and free stock selection services to help you achieve optimal returns and long-term growth. The sides did not publicly disclose the details of the agreement. But a source familiar with the negotiations said that as the final details of the contract were being worked out this week, there was a compromise reached on technology at the ports, Automation was the key sticking point for the union over concerns they would lose jobs.

Fully automated technology is still out of the contract, but it does allow for semi-automation. USMX can implement new technology like cranes that can perform some tasks without human involvement. However, the contract gives the ILA guaranteed jobs directly associated with any new technology, the source said.

global capital markets limited (530263) ✌️【Financial Planning】✌️ Receive professional stock analysis with real-time updates on market movements. Make quick investment decisions and capitalize on profitable opportunities. Management had argued ports need to introduce technology to improve productivity – not to eliminate union jobs. But the union said it was not convinced its members would go unhurt by new technology.

President Joe Biden had refusedcalls by many of the nation’s business groupsto intervene andorder the ILA members back to workduring the October strike.

“Today’s tentative agreement between the International Longshoremen’s Association and the United States Maritime Alliance shows that labor and management can come together to benefit workers and their employers,” Biden said. “I applaud the dockworkers’ union for delivering a strong contract.”

It’s not clear that President-elect Donald Trump would have taken the side of USMX and order the ILA back to work if a new strike started and spilled over into his tenure. After meeting with ILA President Harold Daggett in December, Trump came out firmly in favor of the ILA position on the issue of automation at the ports, writing on hisTruth Socialplatform that the foreign-owned ship lines that dominate the USMX “have made a fortune in the US by giving them access to our markets…. I’d rather these foreign companies spend it on the great men and women on our docks, than machinery, which is expensive, and which will constantly have to be replaced.”

global capital markets limited (530263) ✌️【Financial Planning】✌️ Free access to stock market forums, expert advice, and real-time data to help you stay informed and grow your investments. Most stock quote data provided by BATS. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and 【 - Free Consultation 】. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Fair value provided by IndexArb.com. Market holidays and trading hours provided by Copp Clark Limited.

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