The Railroad Companies and the Unions have until midnight on Friday to reach a tentative agreement before the “cooling off" period ends. Failing to do so opens the door to union strikes, employer lockouts, and congressional intervention.The US economy would lose $2 billion every single day that trains aren’t moving, the Association of American Railroads (AAR) said in a report.
Until today, eight out of 12 labor unions have reached tentative agreements with the railroad carriers, up from five last week. The remaining four represent over half of all rail workers.
On Monday, the Biden Administration urged railroads and unions to reach a deal to avoid a shutdown of the rail system.
This situation is fluid and continues to evolve. Contact your local Expeditors representative for more information and operational assistance.