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Auto, energy and agriculture among industries that will suffer most from a rail strike
Rail strike will create ‘major disruptions’ to freight, passenger travel: Former US transportation secretary
Former U.S. Secretary of Transportation Elaine Chao wishes current Sec. Pete Buttigieg ‘good luck’ in finding a solution to the looming railroad labor strike.
The Biden administration is making efforts to prevent a rail strike that could start as soon as Friday and have severe ramifications for the nation's economy.
About 4,900 members of the International Association of Machinists and Aerospace Workers voted to reject a tentative agreement with the National Carriers' Conference Committee representing railroads, the union said in a statement Wednesday. They agreed to an extension to put off striking until Sept. 29.
Several other unions representing railroad workers have also held out from agreeing to the plan President Biden's presidential emergency board proposed.
A nationwide rail service interruption could cost over $2 billion per day, the Association of American Railroads (AAR) said last week. Jason Miller, interim chairperson of the department of supply chain management at Michigan State University, told FOX Business the cost per day could be "substantially more than that" and would "get worse as time goes on."
RAILROAD UNION VOTES TO AUTHORIZE STRIKE THAT COULD HAMMER ECONOMY