President Biden's administration is discussing emergency aid to protect smaller firms that supply U.S. auto manufacturers if the UAW strikes automakers.
The Detroit Three automakers and union negotiators offered little hope a deal would be reached on Thursday to avoid a midnight walk-off that would be theThe UAW has outlined plans for a series of strikes targeting individual, undisclosed U.S. auto plants, rather than a full walkout, if agreements are not reached by the contract expiration.
Auto suppliers held recent discussions with the White House about the potential impact of a strike and possible options that the Biden administration could tap to help suppliers weather a prolonged strike. The Washington Post was first to report such aid was being considered, and said options could include grants from the Labor Department to workers or loans from the Small Business Administration to companies.
Many smaller U.S. manufacturers that supply parts to the Detroit Three automakers are in a weak financial condition after the shock of pandemic shutdowns and subsequent semiconductor shortages that depressed vehicle production at the three companies for much of the past three years.
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