Massive looming Canadian rail shutdown could have economic ripple effects throughout America

Canada’s freight rail network could come to a grinding halt this week, inflicting a huge economic toll after the country’s two largest railroad operators on Sunday issued lockout notices to the Teamsters union that represents nearly 10,000 workers.

Failing last-minute deals, both Canadian National Railway and Canadian Pacific Kansas City plan to lock out workers from the early hours of Thursday.

It marks the first time that the country has faced a simultaneous labor stoppage at the railroad firms as they normally negotiate their labor agreements in alternate years.

The stoppages could cripple the shipment of food grains, beans, potash, coal and timber which form a large part of Canada’s exports, while also impacting shipments ranging from petroleum products to chemicals and cars.
more at: https://www.cnn.com/2024/08/19/business/canada-rail-strike/index.html

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Key Currency Exchange Rates for Friday, 7/10/20

American Dollar to Canadian Dollar = 0.735537; American Dollar to Chinese Yuan = 0.142820; American Dollar to Euro = 1.127950; American Dollar to Japanese Yen = 0.009362; American Dollar to Mexican Peso = 0.043974.
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