Unions and management have reached a tentative deal that averts a freight railroad strike that had threatened to cripple US supply chains.
By Chris Isidore, Vanessa Yurkevich and Jeremy Diamond, CNN Business Unions and management reached a tentative deal early Thursday that averts a freight railroad strike that had threatened to cripple US supply chains and push prices higher for many goods.
People are also reading… Few details of the deal have so far been made public. But the statement from President Joe Biden indicated that the major issue that had brought the country within a day of its first national rail strike in 30 years had been addressed in the unions' favor. It is an important victory for Biden, who faced nothing but bad choices if a deal had not been reached. Backing Congressional action sought by the business community to impose a contract on workers would have angered his supporters among the unions. Letting the work stoppage play out risked massive economic consequences just ahead of the midterm elections.
The nation’s biggest freight railroads began negotiating with a dozen different unions representing about 115,000 workers in late 2019, but talks were slowed by the pandemic, which limited face-to-face meetings. Congress could intervene and block a strike or lockout, as it has done in previous nationwide rail-labor disputes, but it's not clear whether that would happen this time.
However, the Brotherhood of Locomotive Engineers and Trainmen, and the transportation division of the International Association of Sheet Metal, Air, Rail and Transportation Workers, which represents conductors, have held out in hopes of better terms including provisions on working conditions.
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