Global News Of Note: Canadian Rail Strike Could Begin This Week
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- Last week, the Canadian government rejected a request by Canadian National (CN) Railway to initiate binding arbitration in a labor dispute with the Teamsters union. Negotiations between CN Railway and Canadian Pacific Kansas City, the country’s two largest rail companies, and the Teamsters are deadlocked. As a result, the companies may start locking out workers on Aug. 22. Teamsters said they would be ready to strike on that date. Click here to read more from Reuters.
- As Reuters also reported this month, the value of exports from China increased at their slowest rate in three months in July, “missing expectations and adding to concerns about the outlook for the vast manufacturing sector.” Specifically, exports rose just seven percent between July 2023 and July 2024, a slower pace of growth than the 8.6 percent year-over-year increase seen in June. Imports were up 7.2 percent year-over-year, however, reversing a 2.3 percent decline in June and marking the strongest performance in three months.