After the distraction of visits by presidents past and present, negotiations between the United Auto Workers and auto makers are set gear up ahead of a new...
After the distraction of visits by presidents past and present, negotiations between the United Auto Workers and auto makers were set to go up a gear ahead of a new deadline Friday.
The union has threatened to further expand its strike, which began in the early hours of Sept. 15, if sufficient progress hasn’t been made by noon Eastern time on Friday. The UAW made a similar threat last week, and followed through on it with more walkouts at General Motors and Stellantis plants.Trump visited nonunion auto parts maker Drake Enterprises in Michigan Wednesday, a day after President Biden joined striking UAW workers on the picket line in the state.
But attention will quickly turn to whether Ford, GM and Stellantis can avoid being hit by strikes at additional plants. If further action is taken at more Ford plants, it would suggest that negotiations have deteriorated or that the UAW isn’t happy with how discussions have progressed in the past week.
The stocks have been largely unmoved in recent days and investors have appeared to be in “wait-and-see” mode as negotiations continue. Shares of all three auto stocks edged lower ahead of the open Thursday.Write to Callum Keown at [email protected]
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