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.

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.