West Coast dockworkers and shipping companies reached a tentative six-year contract Nov. 23, ending fears of another costly shutdown in which truckers wait for days to deliver backlogged goods that sit on docks or on anchored, offshore ships.

Some economists estimated the U.S. economy lost $1 billion each day as cargo piled up late last month at 29 ports for 10 days. Some factories shut down for lack of supplies, and farmers worried their produce would rot before it reached market.

The situation ended when President Bush invoked the Taft-Hartley Act to reopen the docks for an 80-day "cooling-off" period that expires Dec. 27.

Under the agreement, the 10,500 members of the International Longshore and Warehouse Union (ILWU) must ratify the multibillion-dollar deal, which could happen by January, The Associated Press reports. The contract provides "significant" wage and benefit increases, said federal mediator Peter Hurtgen, who wouldn't provide details.

In exchange, the ILWU agreed to lose about 400 positions as shipping companies and port-terminal operators introduce more efficient cargo-tracking technology, such as scanners, remote cameras and satellite tracking systems.

Hurtgen credited the union with adapting to the inevitable -- increased computerization on docks that can be gridlocked under the current system.