Railroads and unions reach deal to avert devastating strike, keeping America’s trains and the economy on track — for now
Most Americans may not appreciate the central role that private railroads play in supporting the U.S. economy and their everyday lives. Recent fears of a railroad strike may have changed that.
After 20 straight hours of negotiations, brokered by President Joe Biden, U.S. railroads on Sept. 15, 2022, reached a tentative agreement with their unions to avert a devastating strike that had the potential to grind freight rail activity to a halt, worsen already sky-high inflation and drive the economy into a recession.
The costs of a possible work stoppage were already becoming apparent, as some railroads stopped taking certain hazardous goods, such as fertilizer and chlorine destined for water purification plants. And Amtrak said it was canceling all long-distance trains – though the company said it was working to restore service following news of the deal.