Biden: Rail Strike Averted Is 'Big Win For America'

A strike might have begun as early as Friday that could halt shipments of food and fuel at a cost of $2 billion a day.

President Joe Biden announced Thursday that a tentative railway labor agreement has been reached, averting a nationwide strike that could have been devastating to the economy before the pivotal midterm elections.

Railroads and union representatives had been in negotiations for 20 hours at the Labor Department well past midnight to hammer out a deal, as there was a risk of a strike starting on Friday that could have shut down rail lines across the country.

The president brought business and union leaders to the Oval Office on Thursday morning, then hailed the deal in remarks in the White House Rose Garden.