With a strike deadline looming, the union for 45,000 dockworkers and the group representing East and Gulf Coast ports have exchanged wage offers, leaving a ray of hope that a deal can be reached without a major work stoppage.

A dockworkers' strike is set to shut down ports across much of the US indefinitely, threatening significant trade and economic disruption ahead of the presidential election and the busy holiday shopping season.

The International Longshoremen’s Association says they’ll walk off the job at midnight if they can’t reach a deal on their contracts with the United States Maritime Alliance.