(Bloomberg) -- Canadian businesses are warning about potential long-term damage to the economy if railway and port strikes go ahead and choke the country’s...
-- Canadian businesses are warning about potential long-term damage to the economy if railway and port strikes go ahead and choke the country’s vital trading arteries, following walkouts last year.Canada’s two main railroad companies, Canadian National Railway Co. and Canadian Pacific Kansas City Ltd., are preparing to halt the movement of goods Thursday if they can’t agree on a deal with the Teamsters union, which represents more than 9,000 workers.
Businesses say they’re still reeling from a 13-day dockworker strike by the ILWU a year ago, which the Greater Vancouver Board of Trade said disrupted C$10.7 billion in trade. Canada’s transport ministry said the disruption reduced Canada’s gross domestic product by as much as C$980 million. As fresh strikes loom, cargo is again being delayed and disrupted, said Jonathan White, commercial vice president at Canada Steamship Lines Inc., which ships millions of tonnes per year of dry bulk commodities, including iron ore, grain, cement and salt.Some so-called discretionary cargo may be heading south to the Port of Long Beach and the Port of Los Angeles, which are handling a surge of containers approaching records set during the pandemic.
“We are stepping up to ship more Canadian potash in light of sanctions and restrictions on Russia and Belarus, but that hinges on Canada’s railroads and ports functioning,” said Natashia Stinka, Canpotex’s director of public affairs. One week of the Canpotex’s train traffic is equivalent to about 10,000 trucks on the road, according to the company.
Earlier Disney had claimed the complaint is subject to arbitration based on the widower's Disney+ subscription and ticket purchase from its website.The grocery industry is pushing back against Vice President Kamala Harris's proposed economic policy aimed at lowering grocery store costs and combating price gouging. The National Grocers Association has labeled the initiative as "a solution looking for a problem.
Canadian Businesses Canadian National Railway Port Strikes British Columbia Steven Mackinnon Vancouver
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