WASHINGTON — A tentative agreement ended the East Coast and Gulf Coast longshore workers strike late Thursday, much earlier than expected. The new deal extends union and port operators’ master contract until Jan. 15, 2025. 

The American Bakers Association (ABA) released a statement applauding the reopening of the ports. 

“Every day the strike continued would have cost United States commerce billions of dollars and disrupted the lives of millions of consumers,” said ABA President and Chief Executive Officer Eric Dell. “We have temporarily avoided a crisis that would have prevented commercial bakers from delivering essential food to Americans’ tables. We hope that the port operators and longshore workers are able to reach an agreement beyond January that will keep supply chains stable and certain for the long-term.”

The ABA had joined 296 other business groups in a letter to President Biden earlier this week urging the administration to assist in ending the strike. The National Association of Manufacturers reported that the walkout had placed $2.1 billion in daily trade at risk with the potential economic losses to reduce gross domestic product by as much as $5 billion per day. 

For the commercial baking industry in the United States, the strike impacted more than 37% of the industry’s imports, worth nearly $3.1 million of products per day, according to the ABA.