A second U.S. port strike has been averted after dock workers, the ports and shipping companies reached a tentative deal on a new contract late Wednesday.

The six year agreement still needs to be ratified by union members.

But in a joint statement, the International Longshoremen's Association and their employer, the U.S. Maritime Alliance, called it a win win.

Exact details aren't being disclosed, according to the statement.

The agreement protects union jobs and creates a framework for when and how automated machinery is used at the ports.

That, of course, was the thorniest issue that needed to be hammered out.

Management had argued ports needed to introduce new technology to improve productivity, but the union wasn't convinced jobs wouldn't be slashed.

President Biden today praised the deal.

The strike, which would have taken effect January 15th just days before President-Elect Trump's inauguration, could have crippled the economy.

Ports, though, will now remain open and operating until the current contract is ratified.