The International Longshoremen's Association (ILA) has temporarily suspended its strike at U.S. East and Gulf coast ports until January 15 to allow time for contract negotiations. The strike, initially set due to disputes over pay and automation, was estimated to potentially cost the U.S. economy $3 to $5 billion daily. ILA President Harold Daggett has asserted the union's demands for a 62% wage increase and protections against automation, emphasizing the critical role of longshoremen during the pandemic. The suspension allows work to resume immediately under the old contract terms while negotiations continue. This development occurs amid increased political scrutiny, as the strike's proximity to presidential elections could affect economic perceptions. Despite the temporary resolution, automation and wage hikes remain contentious issues, with the union focusing on securing job security and fair compensation.