The sides tried to reach a deal before the strike deadline, as they met in Labor Secretary Marty Walsh's office.
The meeting began at 9 a.m.. There is an hour and a half later.
According to the Association of American Railroads, the railroads have no plans to lock out workers on Friday.
10% of the workforce could leave if the issues aren't resolved before the deadline, according to the union's top negotiator. Quality of life and sick time policies were sticking points.
No sick time costs them nothing. They are able to manage it. The president of the Brotherhood of Locomotive Engineers and Trainmen said that it doesn't hurt their business model. The railroads need to start treating their employees the same way they would a human being.
The BLET and the SMART Transportation Division are still talking to carriers despite the fact that eight of 12 railroad unions have reached tentative deals with companies. Half of the railroad workers are represented by the two groups. The International Association of Machinists and Aeronautical Workers voted against a deal.
A strike could happen in the early morning hours if the cooling off period is not continued. The railroads diverted freight ahead of the strike.
The Biden administration is preparing for a work strike. A strike would cost the US economy more than $2 billion a day.
The National Customs Brokers & Forwarders Association of America sent an email to members detailing the timelines of the closings. Ahead of the deadline, CNBC has compiled a list of rail changes.
Norfolk Southern and the other railroads have reduced their freight in anticipation of a strike. Common freight is being prioritized over this freight.
Some plans have been changed to accommodate more regular cargo.
A spokesman for the railroad told CNBC on Wednesday that they give the most flexibility as they can for customers. The period of time for trucks to bring containers into the terminal has been extended.
The containers were supposed to be stopped Tuesday.
It could take weeks, if not months, to recover from the strike.
"Delivery of oversized transformers for transmission and distribution, natural gas turbine, and power generators, as well as renewable technology such as wind tower sections and blades, rely on the U.S. rail systems," said Marco Poisler, COO of UTC Overseas.
It takes months of planning and rail engineering resources to find the right rail assets to transport such cargo.
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