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9,000 railway workers locked out in Canada, risking $250M daily losses. Government orders arbitration to end dispute and restart crucial supply chains.
The Canadian rail strike has put on hold the jobs of 9,000 workers, sparking a supply chain crisis. Here are some key points from this situation:
Grain Exports Halted
The Chemical Sector
The Auto Industry
Labor Minister Steven MacKinnon initially resisted calls to intervene, stating:
"It is the responsibility of the union and railroads to negotiate a new agreement."
However, mounting economic pressure forced action. The government has now ordered binding arbitration to end the dispute and restart rail operations "forthwith."
With rail accounting for 16% of U.S.-Canada freight, a prolonged stoppage could have far-reaching consequences.
Businesses warn of plant closures and supply shortages if the situation isn't resolved quickly.
We covered in our newsletter some potential impacts on US freight with the possibilities of increased demand for trucks, potential rate increases, and the aforementioned supply chain delays.
The race is on to get Canada's economic lifeline back on track.
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