Port strike ends as dockworkers reach tentative deal

The union for striking dockworkers said Thursday evening they'll return to work at U.S. ports after reaching a tentative deal with the United States Maritime Alliance, ending three

Why it matters: There were concerns that if the first port strike on the East Coast since 1977 had continued it could have hit supply chains and drive shortages and higher prices as the U.S. heads into the holidays and a presidential election, per Axios' Emily Peck.

Driving the news: The International Longshoremen's Association and the USMX confirmed in a joint statement that the union first shared in a Facebook post that the strike was ending after three days.

• The union and the USMX have reached an agreement on wages and extending the Master Contract until Jan. 15 "to return to the bargaining table to negotiate all other outstanding issues," per the post.
• "Effective immediately, all current job actions will cease and all work covered by the Master Contract will resume."

Editor's note: This a breaking news story. Please check back for updates.