Dock workers at key Canadian ports reject labor deal, creating further trade uncertainty

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Dock workers at key Canadian ports reject labor deal, creating further trade uncertainty
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A 14-day strike hit hard U.S. trade that is imported through the ports of Vancouver and Prince Rupert.

West Coast membership of the International Longshoremen and Warehouse Union of Canada voted down a tentative deal late Friday in a two-day vote

Shipping containers are loaded onto rail cars at the Global Container Terminals Vanterm container terminal on Vancouver Harbour in Vancouver, British Columbia, Canada.Overseas trade entering North America through key ports on Canada's West Coast faces more uncertainty after dock workers rejected a tentative labor deal late Friday.

The four-year package increased the compounded wage over four years by 19.2%. A signing bonus of $1.48 an hour per employee which tallied to approximately $3,000 per full-time worker was included. Also in the deal was an 18.5% increase in retirement payout. For the third week in a row, rail traffic from Canada into the U.S. is down following the on-again, off-again western Canadian ports strike. The first two weeks of the labor strike prevented over 80% of rail trade from entering the United States. The U.S. saw another 12% decrease in trade this week.The strike is also hitting the bottom lines of railroad companies.

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