© Reuters. U.S. President Joe Biden speaks to reporters throughout a go to to a fireplace station on Thanksgiving in Nantucket, Massachusetts, U.S., November 24, 2022. REUTERS/Elizabeth Frantz
By Nandita Bose
NANTUCKET, Mass. (Reuters) – President Joe Biden mentioned on Thursday that his administration was concerned in negotiations to avert a looming U.S. railroad strike that would shut down provide chains throughout the nation however added that he has indirectly engaged on the matter but.
Talking to reporters exterior a fireplace station on Nantucket Island, Massachusetts, Biden declined to supply particulars on how the talks have been going as a result of it was “the center of negotiations.”
“My group has been in contact with all of the events … and I’ve indirectly engaged but,” Biden mentioned. “They’re nonetheless speaking.”
Greater than 300 teams, together with the Nationwide Retail Federation and the Nationwide Affiliation of Producers, urged Biden final month to become involved to assist keep away from a strike that would have a big influence on the U.S. economic system.
A rail visitors stoppage may freeze nearly 30% of U.S. cargo shipments by weight, stoke inflation and value the American economic system as a lot as $2 billion per day by unleashing a cascade of transport woes affecting U.S. vitality, agriculture, manufacturing, healthcare and retail sectors.
On Monday, staff on the largest U.S. rail union voted in opposition to a tentative contract deal reached in September, elevating the potential of a year-end strike.