A significant port strike in the United States has been halted, with a preliminary agreement reached regarding wages, as reported by the International Longshoremen's Association and the U.S. Maritime Alliance.

In a joint statement released on Thursday evening, the ILA and USMX announced, Effective immediately, all ongoing job actions will be terminated, and all work governed by the Master Contract will recommence.

According to sources familiar with the matter, the tentative agreement proposes a 62% wage increase for workers over the duration of the six-year contract, as confirmed to ABC News.
This marks a notable escalation from the shipping industry group's previous proposal of a 50% wage increase earlier this week. The union had been advocating for a 77% salary increase over a six-year period.

The provisional agreement would elevate the hourly wage for a leading dockworker to $63 by the conclusion of the new contract, a rise from the $39 per hour stipulated in the expired contract.