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Railroads and unions reach a tentative agreement to avoid a rail shutdown

US railway companies and unions have reached a tentative agreement to avert a nationwide strike that, according to a report from the Association of American Railroads (AAR), could impact nearly 30% of U.S. cargo shipments and lead to a loss of $2 billion in economic output per day. In the statement released today, President Biden applauds the unions and rail companies for reaching a tentative agreement that will keep the “critical rail system working and avoid disruption of our economy.”

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