National Mining Association president and CEO Rich Nolan spoke about the magnitude of a potential rail strike Monday, telling Mornings with Maria that it would interrupt the flow of commodities that go into products and goods for the everyday American consumer.
RICH NOLAN: I think there is a process underway that the president Biden has negotiated with the unions. They are in a question and answer period. We as the largest user of the rail system are concerned about the potential impact of a strike, and the vote for 21 days will push this well past the midterm elections.
We represent about 45% of the tonnage hauled on U.S. railways, so there is a lot at stake here. We are in an environment of sustained inflation. There is a lot of pressure for inputs across the board and a strike right now would damage the U.S. economy, especially as we head into the holiday as they duck past the midterm elections, so we are very concerned about where this is going.