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Agriculture shippers say new contract must have 'improvements in port operations.'
The Taft-Hartley Act gives presidents ability to intervene in damaging work stoppages such as the one engulfing West Coast ports.
Feds announce that they will assist ILWU and PMA in contract talks that have been going on since May.
Marine terminal officials agree that future contracts will require ongoing collaboration.
Maersk Line CEO Soren Skou told American Shipper container lines need to adapt to permanent overcapacity, and cited Maersk's network management as the primary driver of bumper profits in recent years.
Economist revised forecasts, predicting lower import growth and a second year of declines in exports.