'Cooling off' period to avert shutdown as U.S. rail deal heads for vote

Reuters are reporting some possible good news for on the U.S. railway strike saga

U.S. railway parties have agreed to a cooling off period as standard part of the ratification process after reaching a tentative deal overnight, a move that would avert any shutdown in case unions fail to ratify it, a source familiar with the situation said on Thursday.

U.S. President Joe Biden called negotiators around 9 p.m. Wednesday night as talks continued in a move the source said was "crucial" as talks progressed for 20 hours into the night.

As a reminder, almost 30% of cargo in the U.S. travels by rail, and with harvest season upon us, a nationwide strike would be very damaging.

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