The UAW auto union is expected to begin a strike Thursday night against Detroit automakers Ford (F), General Motors (GM), and Stellantis (STLA) if a deal isn’t reached, and White House administration officials are planning measures to protect suppliers to the auto industry from long-term damage, The Washington Post’s Jeff Stein and Jeanne Whalen report. According to three people aware of internal conversations, the White House isn’t expected to intervene in a strike, but is worried that a protracted strike could wipe out suppliers that depend on business from the automakers. A strike would be the first against an auto company since 2019.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on F:
- GM, F, STLA Fail to Avert Union Wrath; UAW Begins Midnight Strike
- A Looming UAW Strike Means Calamity for Several Stocks
- UAW, automakers are ‘far apart’ for new labor agreement, WSJ reports
- Ford says ‘still have not received any genuine counteroffer’ from UAW
- General Motors upgraded, Oracle downgraded: Wall Street’s top analyst calls