Canada CEOs Call for Legislation to Avert Railroad Strike -- Market Talk

Dow Jones05-22

1411 ET - The Business Council of Canada, which represents CEOs at blue-chip companies, writes to cabinet ministers asking they take every measure available to prevent a possible railroad strike in the coming weeks. Among the options the council calls for is legislation to avert a railroad strike, like Congress adopted in December 2022 and President Biden signed into law. The timing of a simultaneous strike at both Canadian National Railway and Canadian Pacific Kansas City is up in the air after the Labor Minister asked the federal labor-relations board to rule on whether the railroads must transport certain goods during a labor disruption. CPKC says a strike, or possible employee lockout, might not materialize for eight weeks. This uncertainty is causing damage to foreign confidence in Canadian supply chains, the council writes. (paul.vieira@wsj.com; @paulvieira)

(END) Dow Jones Newswires

May 21, 2024 14:11 ET (18:11 GMT)

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