Berliner Boersenzeitung - Biden calls for 'fair' contract as threat of US auto strike looms

EUR -
AED 4.298587
AFN 79.896722
ALL 97.290363
AMD 447.399374
ANG 2.094905
AOA 1073.330424
ARS 1519.860648
AUD 1.795917
AWG 2.107742
AZN 1.992538
BAM 1.956226
BBD 2.359994
BDT 142.010329
BGN 1.956029
BHD 0.441264
BIF 3485.629543
BMD 1.17048
BND 1.498614
BOB 8.076759
BRL 6.32516
BSD 1.168845
BTN 102.223395
BWP 15.642274
BYN 3.899316
BYR 22941.40764
BZD 2.347791
CAD 1.615707
CDF 3388.539825
CHF 0.943637
CLF 0.028765
CLP 1128.472421
CNY 8.406507
CNH 8.40723
COP 4718.216511
CRC 590.623618
CUC 1.17048
CUP 31.01772
CVE 110.289497
CZK 24.471342
DJF 208.143564
DKK 7.463291
DOP 71.945058
DZD 151.758198
EGP 56.534653
ERN 17.5572
ETB 164.619355
FJD 2.638025
FKP 0.863313
GBP 0.863188
GEL 3.148827
GGP 0.863313
GHS 12.681817
GIP 0.863313
GMD 84.908107
GNF 10134.121073
GTQ 8.964991
GYD 244.444295
HKD 9.160902
HNL 30.596404
HRK 7.533558
HTG 152.942011
HUF 394.747901
IDR 18947.027655
ILS 3.966932
IMP 0.863313
INR 102.301593
IQD 1531.120464
IRR 49291.885743
ISK 143.208308
JEP 0.863313
JMD 187.029145
JOD 0.829889
JPY 172.466709
KES 151.167876
KGS 102.275135
KHR 4681.979939
KMF 492.18837
KPW 1053.431983
KRW 1620.599475
KWD 0.357535
KYD 0.974004
KZT 633.142517
LAK 25298.403028
LBP 104668.907219
LKR 351.813635
LRD 234.349049
LSL 20.554778
LTL 3.456123
LVL 0.708012
LYD 6.321323
MAD 10.529794
MDL 19.490246
MGA 5200.088379
MKD 61.534473
MMK 2456.845352
MNT 4208.740114
MOP 9.419371
MRU 46.753786
MUR 53.232897
MVR 18.037555
MWK 2026.724194
MXN 21.93301
MYR 4.940642
MZN 74.787599
NAD 20.554602
NGN 1791.009604
NIO 43.009002
NOK 11.932482
NPR 163.557233
NZD 1.971252
OMR 0.450034
PAB 1.168855
PEN 4.166272
PGK 4.863018
PHP 66.786391
PKR 331.615207
PLN 4.2582
PYG 8559.791566
QAR 4.261447
RON 5.064316
RSD 117.166004
RUB 93.303586
RWF 1692.454231
SAR 4.39227
SBD 9.625762
SCR 17.256727
SDG 702.867751
SEK 11.181841
SGD 1.500668
SHP 0.919814
SLE 27.276359
SLL 24544.377599
SOS 667.9398
SRD 43.963588
STD 24226.57243
STN 24.505129
SVC 10.227141
SYP 15218.276003
SZL 20.548301
THB 37.98159
TJS 10.899381
TMT 4.108385
TND 3.416059
TOP 2.741382
TRY 47.873808
TTD 7.93066
TWD 35.09275
TZS 3051.169752
UAH 48.241397
UGX 4160.924205
USD 1.17048
UYU 46.760386
UZS 14706.077984
VES 158.565333
VND 30766.066318
VUV 139.464646
WST 3.237872
XAF 656.094321
XAG 0.030743
XAU 0.000349
XCD 3.163281
XCG 2.106541
XDR 0.815971
XOF 656.094321
XPF 119.331742
YER 281.237109
ZAR 20.581919
ZMK 10535.722215
ZMW 27.087669
ZWL 376.894077
  • RBGPF

    2.8400

    75.92

    +3.74%

  • CMSD

    0.0505

    23.34

    +0.22%

  • SCS

    -0.0500

    16.15

    -0.31%

  • NGG

    -0.1300

    71.43

    -0.18%

  • GSK

    0.5581

    39.36

    +1.42%

  • BTI

    -0.2700

    57.15

    -0.47%

  • AZN

    0.7000

    79.17

    +0.88%

  • RELX

    0.2700

    47.96

    +0.56%

  • RIO

    0.2000

    61.24

    +0.33%

  • CMSC

    0.0300

    23.12

    +0.13%

  • RYCEF

    -0.2100

    14.71

    -1.43%

  • VOD

    0.0300

    11.67

    +0.26%

  • BCE

    0.2400

    25.61

    +0.94%

  • BCC

    -0.6300

    85.99

    -0.73%

  • JRI

    0.0835

    13.36

    +0.62%

  • BP

    0.1892

    34.33

    +0.55%

Advertisement Image
Biden calls for 'fair' contract as threat of US auto strike looms
Biden calls for 'fair' contract as threat of US auto strike looms / Photo: BILL PUGLIANO - GETTY IMAGES NORTH AMERICA/AFP/File

Biden calls for 'fair' contract as threat of US auto strike looms

President Joe Biden called on Monday for a "win-win" labor agreement between US car manufacturers and the United Auto Workers (UAW), weighing in as a potential strike looms next month.

Advertisement Image

Text size:

"I support a fair transition to a clean energy future," Biden said in a statement released a month before the September 14 expiration of UAW contracts at Detroit's "Big Three" -- General Motors, Ford and Stellantis.

The UAW, under newly elected president Shawn Fain, has adopted a tough public posture in talks with the automakers, demanding hefty wage increases, the reinstatement of cost-of-living adjustments and the elimination of a two-tiered labor structure.

Many auto experts see a high likelihood of at least one company facing a strike this fall. The UAW has a long history of strikes, most recently in 2019 at GM.

Biden said automakers must provide good-paying jobs, "avoid plant closings" and ensure "fair" treatment of workers in a transition.

"The UAW helped create the American middle class and as we move forward in this transition to new technologies, the UAW deserves a contract that sustains the middle class," Biden said.

A self-professed "labor guy," Biden has strongly backed the right of workers to organize and already obtained key endorsements from some unions, as well as the AFL-CIO.

But the UAW has thus far been conspicuous in refraining from endorsing a candidate in 2024.

Fain, who met with Biden last month at the White House, has at times slammed the Biden administration for not doing more to ensure the transition to electric vehicles lifts workers.

Fain weighed in critically in June when US officials gave preliminary approval to a $9.2 billion loan to Ford joint-venture to build three new battery plants in the southern states of Tennessee and Kentucky.

A UAW statement noted the lack of labor guarantees, including that wages would measure up to traditional Big Three manufacturing levels.

"We have been absolutely clear that the switch to electric engine jobs, battery production and other EV manufacturing cannot become a race to the bottom," Fain said.

"Not only is the federal government not using its power to turn the tide –- theyre actively funding the race to the bottom with billions in public money."

(L.Kaufmann--BBZ)

Advertisement Image