President Joe Biden on Friday provided his help to the United Auto Workers, as he addressed their strike aimed on the Big Three automakers.
Auto firms have seen document income due to the “extraordinary skill and sacrifices” of UAW employees, Biden stated in a quick speech on the White House.
“Those record profits have not been shared fairly, in my view, with those workers,” the president added.
“The companies have made some significant offers, but I believe they should go further to ensure record corporate profits mean record contracts for the UAW,” he additionally stated.
Biden gave his remarks after about 12,700 employees went on strike early Friday as their union and the Big Three automakers failed to achieve an settlement earlier than a contract expired.
It’s a focused strike at a Ford Motor
F,
plant in Michigan, a General Motors
GM,
plant in Missouri and a Stellantis NV
STLA,
plant in Ohio.
The UAW to date has not endorsed Biden’s re-election bid, even because the AFL-CIO and different large unions have lined up behind the Democratic incumbent.
The presidential race in 2024 may very well be a rematch of 2020’s contest between Biden and former President Donald Trump, who has received over some union households that traditionally have backed Democrats like Biden reasonably than Republicans.
See: Here are the Republicans operating for president
Biden bought extra help than Trump from union households within the battleground states of Michigan and Wisconsin in 2020, however Trump bought extra help from such households in Ohio and Pennsylvania, in keeping with Edison Research exit polls.
Trump has seized on considerations that the automotive business’s shift towards electrical autos
CARZ,
which the Biden administration has promoted, might damage American employees. “The all Electric Car is a disaster for both the United Auto Workers and the American Consumer,” the previous president stated Friday in a submit on his Truth Social platform.
On Friday, Biden stated he hopes the UAW and automotive firms “can return to the negotiation table to forge a win-win agreement,” and he stated he’s sending two administration officers to Detroit — Julie Su, the appearing secretary of labor, and Gene Sperling, a senior adviser.
GM posted a 2022 web revenue of $11.04 billion, up from $10.38 billion in 2021, whereas Ford recorded a 2022 web revenue of $7.62 billion, up from $6.43 billion within the prior 12 months. For Stellantis, the father or mother firm for manufacturers resembling Chrysler, Dodge and Jeep, final 12 months’s web revenue was $17.83 billion, up from $15.12 billion.
Now learn: Tesla could be the winner of the Big Three labor woes
And see: Will the UAW strike push up automotive costs?
Plus: UAW strike to have restricted affect on Big Three, Fitch says
Claudia Assis contributed.
Source web site: www.marketwatch.com
