The 8-day-old strike at the ports of Los Angeles and Long Beach, the  nation's busiest seaport complex, has ended with picket lines ending and dockworkers returning to work.

The strike was launched by the International Longshore and Warehouse Union Local 63 Office Clerical Unit. The union handles the paperwork associated with the cargo handled by the two ports, which together account for nearly 40 percent of all U.S. container imports.

The National Retail Federation asked President Barack Obama last week to intervene, warning a prolonged strike could have a “devastating impact on the U.S. economy.”

“We're glad to see a deal was finally reached and the strike will finally end,” said Jonathan Gold, the NRF's VP for supply chain and customs policy, to the Los Angeles Times. “Hopefully the retailers and other affected industries will be able to quickly recover from the shutdown.”

Many major U.S. retailers said they were largely spared any pain from the labor clash because most of their Christmas inventory had already made it to store shelves.