Houston-area longshoremen along with thousands of other workers announced an end to their strike Thursday while they broker a new contract with port operators and distributors, ending a three-day work stoppage that threatened to send shock waves through the economy.

The strike ends after a tentative deal was reached between the dockworkers and the management group United States Maritime Alliance, suspending a action that had the potential to disrupt the U.S. economy. The dockworkers won a 62 percent wage increase over six years, shy of their ask of 77 percent, according to a report from the Washington Post.

Longshoremen are returning to work at the Port of Baltimore and other ports from Maine to Texas, three days after walking out on a strike that threatened to cripple the economy if it went on for an extended period of time.

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.

After days of disruptions, dockworkers return to New York City ports following a deal on wages. Negotiations over other key issues continue as the strike is suspended.

Major retailors prepared for the disruption by placing orders early and rerouting some shipments through the West Coast.

The International Longshoremen's Association (ILA) has reached a deal to suspend its strike until January, according to a joint statement released on Thursday. The statement by the ILA and the United States Maritime Alliance,

The International Longshoremen’s Association received a new wage offer and will halt its walkout at East and Gulf Coast ports, which began Tuesday.