UAW is preparing to strike against the Big Three automakers, seeking better pay and benefits as car companies rake in billions
— by lowering vehicle supply and disrupting the car makers’ supply chains — at a time when both workers and Wall Street alike are eager for price increases to slow, and for the Fed to reduce interest rates.
This macroeconomic context is plainly shaping the standoff. In his address to workers, Fain sought to counter narratives that UAW workers “are the problem,” insisting that the auto companies exacerbated inflation by “price gouging the hell out of the American consumer.
Biden — a lifelong “car guy” — has enjoyed strong labor support. But he has also been willing to take drastic measures to keep the economy on track, as when he signed a bill last December thatBiden and Fain spoke on Labor Day, and the president recently expressed optimism about avoiding a strike. But the president has stopped short of fully backing autoworkers, pressing the Big Three to.
GOP frontrunner Donald Trump has sought a political opening amid the labor strife, blasting Biden’s “Green New Deal crusade” to electrify the U.S. vehicle fleet and increase mileage standards, and warning of a coming “slaughter” of autoworker jobs. He
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