President Joe Biden’s administration heaped pressure on U.S. port employers to raise their offer to secure a labor deal with dockworkers on strike for a second day on Wednesday, choking half the country’s ocean shipping.

The union for striking dockworkers said Thursday evening they'll return to work at U.S. ports after reaching a tentative deal with the United States Maritime Alliance, ending three Why it matters: There were concerns that if the first port strike on the East Coast since 1977 had continued it could have hit supply chains and drive shortages and higher prices as the U.

The White House has been nudging the International Longshoremen's Association and shipping companies to reach a deal with billions on the line for the U.S. economy as the port strike continues. CBS News White House reporter Willie James Inman has more on that and the White House's response to the ongoing developments in the Middle East.