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Dockworkers Extend Negotiations

Deal gives retailers no guarantee on East Coast port strike.

By Brooke Sutherland, Bloomberg | Updated on December 31, 2012

Retailers and manufacturers avoided the worst when dockworkers agreed Friday to continue contract talks and keep major U.S. ports open. The next five weeks will determine whether a strike can be ruled out completely.

The International Longshoremen’s Association and the U.S. Maritime Alliance, representing container carriers, struck a tentative agreement on a royalty payment for workers that had been a sticking point in negotiations, federal mediators said yesterday. The two sides will push back a deadline for reaching an overall contract from midnight tonight until Feb. 6.

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