US Freight Railroads and Unions Reach Tentative Agreements, Strike Averted

US Freight Railroads and Unions Reach Tentative Agreements, Strike Averted

It is reported that under the intervention of the Biden administration, the largest super strike in the United States in 30 years, which will cause losses of up to 2 billion US dollars a day, the American railroad workers strike crisis, was officially announced last night.

In the early hours of Thursday, local time in the United States, the Association of American Railroads (AAR) issued a statement saying that it has cooperated with the Locomotive Engineers Union and Trainers Division of the International Railroad Drivers Union, the International Sheet Metal, Aviation Association, and the Railroad and Transportation Workers-Department of Transportation. Reached a preliminary agreement with the railway signal workers union. The unions, which collectively represent about 60,000 workers, avoided a potential strike ahead of Friday's deadline.

According to a statement from the Association of American Railroads (AAR), the agreement will give employees a 24 percent pay rise over five years from 2020 to 2024 and pay an average of $11,000 in bonuses to each union member upon approval, all tentative agreements All must be approved by union members.

U. S. President Joe Biden called the deal "an important victory" in his speech: "These railroad workers will get better wages, better working conditions, and better health care costs -- all hard earned. come."

The tentative deal, reached with 12 unions representing some 60,000 employees of private freight railroads across the country, means the one-time payment alone will cost the companies about $660 million. But compared with the damage caused by the strike, the $660 million is a bit "insignificant".

Because once the strike begins, it will cost the economy around $2 billion a day by halting the flow of goods and disrupting passenger rail services that normally utilize freight lines.

Union members will now vote on whether to approve the tentative deal. "We hope railroad workers will embrace the new terms of the proposed contract and that the rail system will continue to serve millions of hardworking Americans, their jobs and our nation's," said Matthew Shay, president and CEO of the National Retail Federation. Economic security depends on railroads."

Shenzhen Xunlaitong specializes in shipping export from Shenzhen to Australia & New Zealand, Germany, Netherlands and more business

www.xunlaitong.com