“Big 3” U.S. Automakers’ Workers Strike Could Affect Entire U.S. Economy

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Nearly 13,000 United Auto Workers (UAW) members have begun a strike from the the top three U.S. automakers — Ford, General Motors, and Stellantis, maker of Chrysler and Jeep — after the Friday midnight deadline passed when their current contract expired. The strike affects assembly plants in Michigan, Ohio and Missouri, but experts say that the walkout could have a ripple effect for the entire U.S. economy.  The Anderson Economic Group, a Michigan-based economic think tank, estimates that a 10-day strike could cost $5.6 billion, both in lost income for the companies and lost wages for the workers.  However, the estimated loss doesn’t account for things like reduced taxes collected which will affect government spending in those areas.  National Association of Manufacturers (NAM) President and CEO Jay Timmons said, “The impact of this strike will echo far beyond the city of Detroit.  American families are already feeling economic pressures from near-record-high inflation, and this will only inflict more pain.”