Trade groups and industry leaders were at ease after the International Longshoremen’s Association the United States Maritime Alliance reached a tentative agreement on a six-year contract for East and Gulf Coast port workers on Wednesday.

Both parties said the deal "establishes a framework for implementing technologies that will create more jobs while modernizing" the ports.

The union representing 45,000 dock workers on the U.S. East and Gulf Coasts and their employers on Wednesday said they reached a tentative deal on a new six-year contract, averting further strikes that could have snarled supply chains and taken a toll on the U.

The International Longshoremen's Association (ILA) and the United States Maritime Alliance (USMX) reached a tentative agreement on the afternoon of January 8.

The International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) have reached a tentative agreement on a new six-year master contract. The agreement will replace the expiring contract

The tentative agreement is on all items for a new six-year master contract. The two sides agreed to continue to operate under the current contract until both sides schedule a ratification vote. CNBC was told details of the new tentative agreement would not be released to allow both the ILA rank-and-file-members and USMX members to review and approve the final document.

The International Longshoremen's Association reached an agreement Wednesday on a new master labor contract with the United States Maritime Alliance, averting a strike at U.S. east coast and gulf coast ports.

Dockworkers and port companies have come to a tentative agreement on a new six-year deal, avoiding another work stoppage that would cause major shipping disruptions along the East Coast. The International Longshoremen’s Association (ILA) and United States Maritime Alliance (USMX) announced the