US dockworkers will return to work after a three-day strike that paralyzed trade in ports along the country’s East and Gulf coasts. Workers agreed to extend their contracts until mid-January after reaching a tentative deal to increase wages by 62% over six years, Reuters reported.

The International Longshoremen’s Association and the U.S. Maritime Alliance reached  a deal Thursday night to suspend a three-day strike, giving themselves until Jan. 15 to negotiate a new contract, the Associated Press reported.

The union for over 45,000 U.S. dockworkers has agreed to suspend a three-day ports strike until January to negotiate a new contract after reaching a tentative deal on Thursday.

The union representing 45,000 striking U.S. dockworkers at East and Gulf coast ports reached a deal Thursday to suspend a three-day strike until Jan. 15 to provide time to negotiate a new contract.

Striking dockworkers reached a tentative agreement with port operators on Thursday for a 62 percent wage increase and have extended their contract through Jan. 15 to bargain over remaining issues.

The port’s 170 workers are now set to return to work alongside the 45,000 other ILA members who had been on strike as of Tuesday, and any major disruptions which a prolonged closure may have posed to manufacturers’ supply chains will be largely avoided.

The dockworker strike could cause some risk of inflation — although whether it does and by how much depends on how long the work stoppage lasts.

U.S. East Coast and Gulf ports resumed operations after unionized dockworkers reached a tentative labor agreement with an employer group for a new contract, ending a three-day strike. The agreement, which was announced on Thursday,

Conley Terminal, the main cargo port in South Boston, will re-open Friday morning, after dockworkers suspended their strike.