Investing
Union Pacific says closed rail bridges to Mexico account for about half of cross-border shipments
© Reuters. FILE PHOTO: Union Pacific livery on the side of a cargo locomotive is pictured ahead of a possible strike if there is no deal with the rail worker unions, at Union Station in Los Angeles, California, U.S., September 15, 2022. REUTERS/Bing Guan
(Reuters) – Union Pacific Corp (NYSE:) said on Tuesday that El Paso and Eagle Pass rail bridges, which were closed on Dec. 18 by U.S. border officials, account for about 45% of its cross-border shipments and include goods critical to the U.S. economy.
The railroad operator said it is working closely with multiple government agencies to reopen the two border crossings, but flagged that the Department of Homeland Security did not have an estimated time of reopening.
Earlier in September, about 8,000 trailers carrying goods worth $1 billion were stranded on the U.S.-Mexican border after authorities shut down crossings and imposed extra security checks amid an increase in migration.
Union Pacific said on Tuesday it was working to prevent congestion at the border, adding that it will be more difficult for cross-border trade to resume the longer these closures remain in effect.
The company estimates that the overall economic impact of the closure will be more than $200 million per day.
Earlier this week, Union Pacific flagged that its other locations cannot handle the extra traffic.
Read the full article here
-
Side Hustles6 days ago
How to Develop Empowered Leaders Within Your Own Team
-
Passive Income5 days ago
Are You Running Your Business, or Is Your Business Running You?
-
Side Hustles4 days ago
How to Be Unapologetically You and Why It Matters
-
Investing5 days ago
7 Marketing Strategies to Help Your Startup Grow and Scale
-
Side Hustles5 days ago
How Your Body Language Can Help Win a Disagreement
-
Side Hustles5 days ago
OpenAI Raises Record $6.6 Billion, Adds 50 Million New Users
-
Investing3 days ago
Nvidia CEO Jensen Huang: Demand For Blackwell AI Is Insane
-
Side Hustles6 days ago
Why the Best Time to Sell Your Business Is When You Least Expect It