Unions and management reached a tentative deal early Thursday, averting a freight railroad strike that had threatened to cripple US supply chains and push prices higher for many goods.
The deal with unions representing more than 50,000 engineers and conductors was announced just after 5 a.m. ET in a statement from the White House, which called it “an important win for our economy and the American people.”
A verbal agreement between the two sides was reached at about 2:30 am ET according to sources, and the final hours were spent getting the details worked out.
President Biden praised the agreement as a “big win” for workers and the rail companies.
Source: Railroad Unions and Companies Reach a Tentative Deal to Avoid a Strike
