U.S. rail strike averted with ‘tentative’ deal

President Joe Biden said on Thursday that a tentative railway labor agreement has been reached.

September 15, 2022 09:18 pm | Updated 09:18 pm IST - Washington

Freight train cars sit in a Norfolk Southern rail yard on Wednesday, Sept. 14, 2022, in Atlanta.

Freight train cars sit in a Norfolk Southern rail yard on Wednesday, Sept. 14, 2022, in Atlanta. | Photo Credit: AP

Major U.S. railroads and unions secured a tentative deal after intense talks brokered by the Biden administration to avert a rail shutdown that could have hit food and fuel supplies across the U.S. President Joe Biden announced the deal on Thursday, calling it “a win for tens of thousands of rail workers.”

A rail shutdown could freeze almost 30% of U.S. cargo shipments by weight, stoke inflation, cost the U.S. economy as much as $2 billion per day.

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