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u.s. news Diahuebs 15 september 2022

One union rejects deal days ahead of rail strike deadline

OMAHA, Neb. (AP) —
Members of one union
rejected a tentative deal
with the largest U.S.
freight railroads Wednes-
day while three other
unions remained at the
bargaining table just days
ahead of a strike deadline,
threatening to intensify
snarls in the nation's sup-
ply chain that have con-
tributed to rising prices.

About 4,900 members of the
International Association of
Machinists and Aerospace everything from crude and also includes one additional unions, but it wasn't clear roads trade group estimated
Workers District 19 voted to clothing to cars, a potential paid leave day a year and Wednesday how quickly they that a strike would cost the
reject the tentative agreement calamity for businesses that higher health insurance costs. could or would act because economy more than $2 bil-
negotiated by IAM leadership have struggled for more than Democrats and Republicans lion a day.
with the railroads, the union two years due to COVID-19 The key unions that repre- may not be able to readily
said Wednesday. But the IAM related supply chain break- sent the conductors and en- agree on a solution. A num- Businesses would likely try
agreed to delay any strike by downs. gineers who drive trains are ber of business groups have to turn to trucks and other
its members until Sept. 29 There are 12 unions — one holding out in the hope that written letters to lawmakers modes of shipping if the
to allow more time for ne- with two separate divisions railroads will agree to go be- over the past week urging railroads do shut down, but
gotiations and to allow other — that must agree to the ten- yond those recommenda- them to be prepared to step there isn't enough truck-
unions to vote. tative deals. So far, nine had tions and address some of in because of their concerns ing capacity to take up all
agreed to tentative deals and their concerns about unpre- that a rail strike would be the slack. The railroad trade
Railroads are trying to reach three others are still at the dictable schedules and strict what the Business Round- group estimated that 467,000
an agreement with all their bargaining table. IAM mem- attendance policies that they table called an "economic ca- additional trucks a day would
other unions to avert a strike bers were the first to reject say make it difficult to take tastrophe." be required to deliver every-
before Friday's deadline. their deal while other votes any time off. thing railroads handle now.
The unions aren't allowed are expected Wednesday. Contract talks continued The many businesses that
to strike before Friday under Wednesday with Labor Sec- rely on railroads to deliver A freight rail strike would
the federal law that governs The tentative deals are based retary Marty Walsh partici- their raw materials and fin- also disrupt passenger traffic
railroad contract talks. on the recommendations of pating to put pressure on ished products say a rail strike because Amtrak and many
a Presidential Emergency both sides to reach a deal be- would cause significant prob- commuter railroads oper-
Government officials and Board Joe Biden appointed fore Friday's deadline. lems particularly for oil re- ate on tracks owned by the
a variety of businesses are this summer that called for If the two sides can't agree, fineries, chemical businesses, freight railroads. Amtrak has
bracing for the possibility of 24% raises and $5,000 in bo- Congress could step in to auto makers, retailers and already cancelled a number
a nationwide rail strike that nuses in a five-year deal that's block a strike and impose agricultural groups. The As- of its long-distance trains this
would paralyze shipments of retroactive to 2020. The deal terms on the railroads and sociation of American Rail- week.

US sets up Afghan relief fund with frozen central bank money

food or non-food needs.

In February, President Joe
Biden issued an executive
order that called for banks
to provide $3.5 billion of the
frozen money to a trust fund
for distribution through hu-
manitarian groups for Afghan
relief and basic needs.
The other $3.5 billion will
stay in the U.S. to finance
payments from lawsuits by
U.S. victims of terrorism that
WASHINGTON (AP) — U.S. government representa- ghanistan was suspended are still working their way
A year after the tumul- tive and a Swiss government In the interim, Afghanistan's and billions of dollars of through the courts, prompt-
tuous U.S. withdrawal representative. central bank, which in Feb- the country's assets abroad, ed by claims brought by fam-
from Afghanistan, the ruary had $7 billion in frozen mostly in the United States, ily members of people killed
Biden administration said Notably, the Taliban govern- funds, "must demonstrate were frozen after the Taliban on Sept 11, 2001.
Wednesday it will transfer ment will not have access to that it has the expertise, ca- took control of the country
$3.5 billion in frozen Af- the fund, which will be held pacity, and independence in August 2021 following the "The Afghan Fund will help
ghan central bank funds at the Bank for International to responsibly perform the U.S. military's withdrawal. mitigate the economic chal-
to benefit the Afghan peo- Settlements in Switzerland. duties of a central bank," lenges facing Afghanistan
ple, as hunger grips every The bank in a news release the U.S. Treasury and State The World Bank says income while protecting and preserv-
province there. said its role is "limited to departments said in a joint and economic output in Af- ing $3.5 billion in reserves
providing banking services statement. "Robust safe- ghanistan have dropped be- from Da Afghanistan Bank
Funds will be dispersed after to and executing the instruc- guards have been put in place tween 20% and 30%, imports (DAB), Afghanistan's central
trustees of the new Afghan tions of the Board of Trustees to prevent the funds from be- have declined by roughly bank, for the benefit of the
Fund meet to determine a of the Fund without involve- ing used for illicit activity." 40%, and 70% of Afghan people of Afghanistan," Trea-
timetable. The trustees are ment in the Fund's gover- households report they are sury Deputy Secretary Wally
two Afghan economists, a nance or decision making." International funding to Af- unable to fully meet basic Adeyemo said.