Canadian National Railway and Canadian Pacific Kansas City have shut down their rail networks in Canada and locked out nearly 10,000 workers after unsuccessful negotiations with the Teamsters union. This unprecedented stoppage is expected to significantly harm the Canadian economy and cross-border trade with the U.S. The dispute centers around worker safety issues, including fatigue and scheduling, with the union claiming their proposals were not taken seriously. The shutdown will severely impact the transport of key goods like grain, potash, coal, and petroleum products, leading industry groups to urge the government to intervene.
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00:00It's Benzinga, and here's what's on the block.
00:03Canadian National Railway and Canadian Pacific Kansas City have shut down their rail networks
00:07in Canada and locked out nearly 10,000 workers after unsuccessful negotiations with the Teamsters
00:12Union.
00:13This unprecedented stoppage is expected to significantly harm the Canadian economy and
00:17cross-border trade with the U.S.
00:20The dispute centers around worker safety issues including fatigue and scheduling, with the
00:24union claiming their proposals were not taken seriously.
00:27The shutdown will severely impact the transport of key goods like grain, potash, coal, and
00:32petroleum products, leading industry groups to urge the government to intervene.
00:35For all things money, visit Benzinga.com.