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Market Chatter: Federal Government Will Soon Take Steps To Resolve Railway Stoppages, PM Trudeau says
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Market Chatter: Federal Government Will Soon Take Steps To Resolve Railway Stoppages, PM Trudeau says
Aug 22, 2024 12:32 PM

03:02 PM EDT, 08/22/2024 (MT Newswires) -- Prime Minister Justin Trudeau said the federal government will soon take steps to resolve the railway stoppages that have halted Canada's supply lines and threatened to bring economic harm, The Globe and Mail newspaper is reporting.

It noted Trudeau made the comments on Thursday morning, hours after Canadian Pacific Kansas City ( CP ) railway and Canadian National Railway ( CNI ) locked out workers and shut down their rail networks after labour negotiations failed to yield new agreements.

Almost 10,000 rail employees represented by the Teamsters Canada Rail Conference are now off the job, halting all movements of grain, potash, consumer goods and other freight. Business groups are urging the government to impose mediation on the parties and restore rail service to limit damage to the economy.

Trudeau told reporters during a stop in Sherbrooke, Que., he takes the railway lockouts seriously and is working to find a resolution quickly, without elaborating. He said the rail stoppage will have an impact across the country.

(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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