September 15, 2022
THREAT OF RAIL STRIKE
HAS BEEN AVOIDED
HAS BEEN AVOIDED
A tentative deal was reached early today that deterred a rail strike which threatened to cause major disruptions in the U.S.
As mentioned in a Trade Alert sent out earlier this week, unionized workers for several of the nation’s largest railroad companies were unable to reach a unanimous agreement with all rail union representatives and were preparing to go on strike at midnight on Friday, September 16. Roughly 40% of goods that are shipped long distance rely on the nation’s rail system. Warnings of service interruptions and certain stoppages were addressed in anticipation of the potential shutdown.
Averting this strike offers relief to many industries such as agriculture, automotive, chemical, to name a few. Negotiators for the unions and the rail carriers came to this agreement after 20 hours of marathon talks ahead of the Friday deadline. The threat of a strike has not gone away entirely as these agreements are subject to ratification by the union members.
Please contact us if you have any questions about this or any other trade matter.
As mentioned in a Trade Alert sent out earlier this week, unionized workers for several of the nation’s largest railroad companies were unable to reach a unanimous agreement with all rail union representatives and were preparing to go on strike at midnight on Friday, September 16. Roughly 40% of goods that are shipped long distance rely on the nation’s rail system. Warnings of service interruptions and certain stoppages were addressed in anticipation of the potential shutdown.
Averting this strike offers relief to many industries such as agriculture, automotive, chemical, to name a few. Negotiators for the unions and the rail carriers came to this agreement after 20 hours of marathon talks ahead of the Friday deadline. The threat of a strike has not gone away entirely as these agreements are subject to ratification by the union members.
Please contact us if you have any questions about this or any other trade matter.
