00:00It's Benzinga bringing Wall Street to Main Street.
00:02Contract negotiations between the International Longshoremen's Association
00:05and the U.S. Maritime Alliance will resume on January 7th.
00:09The parties aim to avert a strike that could disrupt major U.S. East and Gulf Coast ports,
00:13which handle about half of the nation's container volumes.
00:16A key sticking point remains the use of semi-automated machinery at port terminals.
00:21The ILA tentatively agreed to a 62% wage increase over six years in October,
00:27suspending a previous strike but leaving the automation dispute unresolved.
00:31The USMX argues the technology is essential for port competitiveness,
00:35while ILA President Harold Daggett opposes any automation,
00:38citing job threats. The current temporary extension expires on January 15th.
00:43For all things money, visit Benzinga.com slash GSTV.
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