US industries prepare for hit from Canadian rail strike

U.S. industries are bracing for impact after Canada’s two main freight railways shut down early Thursday morning — an unprecedented stoppage that could disrupt the flow of billions of dollars in goods that pass over the U.S.-Canada border every month. The two rail companies, Canadian National Railway Co. and Canadian Pacific Kansas City Ltd., are deadlocked in separate talks with Teamsters Canada Rail Conference, with industry experts predicting significant impacts in the U.S. if the strike lasts through the weekend. The companies said in statements earlier this week that they would lock out workers Thursday unless an agreement or binding arbitration was reached. The union responded by issuing a formal intention to strike with an identical deadline. Read more