Trade Regulation Updates

WASHINGTON — Freight rail companies and unions representing tens of thousands of workers reached a tentative agreement to avoid what would have been an economically damaging strike, a relief for businesses and consumers and a win for President Biden, whose administration helped broker the deal.

The breakthrough came just hours before a critical deadline that would have allowed workers to strike and followed all-night talks with unions and industry leaders that were brokered by Mr. Biden’s labor secretary, Martin J. Walsh.

In remarks at the White House on Thursday, Mr. Biden hailed the agreement as a win for both workers and companies alike, reflecting his effort this week to remain impartial in the talks as he tried to push the sides toward agreement. While Mr. Biden has styled himself as the most pro-union president in history he avoided publicly taking sides and portrayed the tentative deal as an achievement for both unions and corporations.

“This agreement is a big win for America,” Mr. Biden said. “And this is a great deal for both sides, in my view.”

Read the New York Times' full article Railroad Unions and Companies Reach a Tentative Deal to Avoid a Strike.