U.S. Rail Strike Has Been Averted, Says Labor Department

The threat of a U.S. rail strike has been averted, the Department of Labor said in a statement early Thursday.

"Moments ago, following 20 consecutive hours of negotiations at the Department of Labor, rail companies and union negotiators came to a tentative agreement that balances the needs of workers, businesses and our nation’s economy."

"The Biden Administration applauds all parties for reaching this hard-fought, mutually beneficial deal," it added.

It gave no details of the 'tentative agreement', which had revolved around key 'quality of life' demands made by the sector's two largest unions, BLET and SMART TD.

Analysts had warned that a strike would have had a severe impact on domestic supply chains that have still not entirely recovered from the effects of the pandemic.

By Geoffrey Smith

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