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Title: The Trains Could Stop Running In The United States Literally One Week From Now
Source: [None]
URL Source: https://www.investmentwatchblog.com ... s-literally-one-week-from-now/
Published: Jul 12, 2022
Author: Staff
Post Date: 2022-07-12 07:03:21 by Horse
Keywords: None
Views: 44

Did you know that an absolutely crippling national railroad strike could potentially start on July 18th? If this actually happens, the historic supply chain crisis that we are experiencing right now will rapidly become far worse. Each year, trains in the United States transport approximately “1.7 billion tons of raw materials and finished goods” to their ultimate destinations. If that suddenly stops happening, our economy goes into the toilet. I realize that may sound a bit crude, but that is the reality of what we are potentially facing. So we better hope that national rail carriers and the unions representing the workers can come to an agreement before next Monday…

Railroad freight traffic across the United States could come to a screeching halt July 18 if progress isn’t made on a labor contract between national rail carriers and their unions.

Union officials stressed they do not want to go on strike, but argued they are being forced to consider the option in a bid to get better benefits, wages and staffing.

We aren’t just talking about a partial paralysis of rail traffic.

This would be a nationwide strike, and the entire system would suddenly be frozen.

At the moment the two sides are in a “cooling off period”, but that “cooling off period” will be over at 12:01 AM on July 18th…

The two sides were forced into a 30-day “cooling off period” after failing to reach an agreement working through the National Mediation Board. The cooling off period prevents unions from striking or railroads from locking out their workers while they continue to negotiate.

That cooling off period ends at midnight on July 18, and a coalition of unions could choose to go on strike at that point, said Sheet Metal Air Rail Transportation union president Jeremy Ferguson.

At this point, it appears that there will be a strike unless Joe Biden uses his powers to intervene.

And that is precisely what the U.S. Chamber of Commerce is asking him to do…

The U.S. Chamber of Commerce is calling on President Joe Biden to help resolve a dispute between the country’s Class 1 railroads and 12 rail unions to avert a possible rail strike beginning July 18.

In a letter sent to the White House on Wednesday, U.S. Chamber President Suzanne Clark warned that the decision last month by the National Mediation Board (NMB) to release the railroads and unions from mediation and begin a 30-day cooling off period “presents a new challenge to the U.S. business community, which is already navigating a difficult environment.”

Unless the administration acts, either party is free to exercise “self-help” options — including a strike beginning at 12:01 a.m. on July 18, when the 30-day cooling-off period ends.

One way or another, this labor dispute will eventually be resolved.

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