Railroad shutdown could cost $2 billion per day.
President Biden’s administration is getting involved in assisting railroad companies and railroad unions to reach a deal to avoid a railroad work stoppage. Labor Secretary Marty Walsh has postponed international travel plans, remaining in Washington, D.C., to facilitate discussions toward a deal.
Union Pacific, BNSF, CSX, and Norfolk Southern have until the minute after midnight on Friday to reach a deal with unions representing 60,000 workers. If they do not, the unions will strike, stopping freight rail operations and costing the U.S. economy around $2 billion per day.
“The parties continue to negotiate, and last night Secretary Walsh again engaged to push the parties to reach a resolution that averts any shutdown of our rail system,” a Labor Department spokesperson said. “All parties need to stay at the table, bargain in good faith to resolve outstanding issues, and come to an agreement.”
About 60,000 workers are set to strike on Friday if a deal is not made. Approximately 40 percent of the nation’s long-distance trade is moved by rail. If the unions strike, more than 7,000 trains would be idled.
At a press briefing, White House Press Secretary Karine Jean-Pierre said, “We are working with other modes of transportation including shippers, truckers, and air freight to see how they can step in and keep goods moving in case of this rail shutdown. The administration has also been working with relevant agencies to assess what supply chain and commodities are most likely to face severe disruptions.”
As the Lord Leads, Pray with Us…
- For the president and his administration as they urge an agreement between the companies and the unions.
- For Secretary Walsh as he advocates for successful labor negotiations.
- For Chamber of Commerce officials as they encourage the negotiating process.
Sources: Washington Post, CNN, Daily Wire, Reuters
