The deal is still subject to ratification by the 13,000 workers of the International Longshore and Warehouse Union, which reached an accord Feb. 20 with the Pacific Maritime Association. The union probably will vote in April.

Overseeing the negotiations was U.S. Secretary of Labor Thomas Perez, who said work would resume less than 24 hours after the tentative agreement. "I suspect that people will be getting a lot of overtime in the days ahead," he added.

National Retail Federation president and CEO Matthew Shay thanked Perez and the administration for bringing labor and employers into agreement. However, he says, "If we are to truly have modern international trade, supply chain and transportation systems, we must develop a better process for contract negotiations moving forward. We must commit whatever resources necessary to ensure that this will not happen again."