Dockworkers' union reaches tentative agreement, will suspend port strike until January

Striking U.S. dockworkers will return to work Friday after reaching a tentative agreement with employers on an improved wage offer.

The conditional offer was for a 62% wage increase, FOX Business has learned. 

The offer is on the table for the next 90 days. If no deal is reached within that timeframe, the proposed wage hike will be pulled from the table. 

The International Longshoremen’s Association, which represents 45,000 striking U.S. workers, said the union and USMX have reached a "tentative agreement on wages and have agreed to extend the Master Contract until January 15, 2025 to return to the bargaining table to negotiate all other outstanding issues."