President Joe Biden said on Thursday that his administration was involved in negotiations to avert a looming U.S. railroad strike that could shut down supply chains across the country but added that he has not directly engaged on the matter yet.
Speaking to reporters outside a fire station on Nantucket Island, Massachusetts, during a Thanksgiving holiday visit, Biden declined to provide details on how the talks were going because it was "the middle of negotiations."
More than 300 groups, including the National Retail Federation and the National Association of Manufacturers, urged Biden last month to get involved to help avoid a strike that could idle shipments of food and fuel while inflicting billions of dollars of damage to an already struggling national economy.
A rail traffic stoppage could freeze almost 30% of U.S. cargo shipments by weight, stoke inflation and cost the American economy as much as $2 billion per day by unleashing a cascade of transport woes affecting U.S. energy, agriculture, manufacturing, healthcare and retail sectors.
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