“Effective immediately, all current job actions will cease and all work covered by the Master Contract will resume,” said a joint statement by the ILA and the employers’ group – United States Maritime Alliance (USMX).
Under the tentative agreement, wages would go up by 62% over the next six years, BBC News understands.
But negotiations will continue over a number of outstanding issues, including automation.
The union had been calling for a 77% wage hike, while USMX had previously increased its pay rise offer to almost 50%.
The BBC has contacted the ILA and USMX for comment.
“The short ILA strike… will surely be ranked as one of the most lucrative 3 days in labour-management history,” said Patrick L Anderson, CEO of business consultancy Anderson Economic Group.
“The ILA workers have apparently gained 60% wage increases after giving up 3 days of work in a strike that inflicted no serious damage on the US economy.”
German shipping group Hapag-Lloyd told Reuters on Friday that it could take three to four weeks to make up for the strike-related vessel backlog in US ports.
The strike started on Tuesday after negotiations failed to produce a new six-year contract.
The walkout was the ILA’s first major stoppage since 1977.
The affected ports included some of the nation’s busiest, including in New York, Georgia and Texas. They are estimated by experts to handle more than a third of US imports and exports.
US President Joe Biden applauded the tentative agreement in a statement on Thursday…
