(From SRN News and Reuters)

(Reuters) -UPS and its Teamsters union have signed a tentative contract deal for about 340,000 U.S. workers at the parcel delivery firm, one week ahead of a threatened strike that could have cost the economy billions and disrupted a quarter of the nation’s package shipments.

Tuesday’s agreement, which must be ratified by union members, cinches another win for transportation labor groups. Railroad, airline and West Coast seaport workers have all seen their bargaining hand strengthened by labor shortages and public support for those who risked their lives early in the pandemic to keep the U.S. economy functioning.

The planned Aug. 1 strike by workers at UPS, which handles about 20 million packages a day across the United States, could have also driven customers into the arms of rivals like FedEx, which is still embroiled in talks with its pilots union.

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