Biden Applauds Agreement Reached by UAW and Big Three Automakers

TIME

President Joe Biden on Monday praised what he termed a “historic” agreement reached by autoworkers with automakers that will end a weeks-long strike that had threatened economic growth.

Transcript

00:00 I've just spoken with President Fain of the United Auto Workers.

00:04 And let me say a few words about the UAW

00:08 and the big three automakers --

00:10 Ford, General Motors, and Stellantis.

00:13 They have reached a historic agreement

00:16 and a hard-fought faith --

00:19 agreement that was really battled for a while,

00:23 but it was all done in good faith.

00:26 And these record agreements reward auto workers

00:29 who gave up much to keep the industry working

00:32 and going during the financial crisis more than a decade ago.

00:36 These agreements ensure the iconic big three

00:40 can still lead the world in quality and innovation.

00:44 Due to the commitment and solidarity of the UAW workers,

00:48 we'll exercise their right --

00:51 their right to collectively bargain.

00:54 They've won a record contract

00:55 with over a 30 percent increase in wages,

00:59 greater retirement security, and more paid leave.

01:02 And the commitment by the big three

01:05 to create more full-time, middle-class jobs

01:07 and invest tens of billions more dollars in plants and factories

01:12 building automobile's future here in America.

01:15 (Applause.)

01:21 I applaud the UAW and the leaders of automobile companies

01:24 for agreeing that all the workers on strike

01:27 and all those who were walking the picket lines

01:29 on behalf of the UAW brothers and sisters

01:31 can go back to work immediately, even before the vote is taken.

01:34 Ultimately, the final word on this contract

01:37 will be for the UAW memberships themselves

01:40 in the days and coming weeks as they vote.

01:42 But here's what I know and what I shared

01:45 with the United Auto Workers I met in the picket line.

01:48 I've always believed that the middle class built America

01:52 and that unions built the middle class.

01:55 And that's especially the case for the United Auto Workers

01:57 who built the iconic automobile industry.

01:59 For too long, in my view,

02:02 the economy hasn't worked for working people

02:04 and for middle-class folks.

02:06 Because when they do well, by the way, everybody does well.

02:09 It's a critical piece of worker power

02:11 and is showing how collective bargaining works

02:13 by providing workers a seat at the table

02:17 to honor their contributions to their employees --

02:19 their employer's success by securing pay and benefits

02:23 they can raise a family on and retire with dignity and respect.

02:27 It's showing how collective bargaining works for companies,

02:31 how strong relationship between workers and management

02:34 can mean record profits leading to record contracts.

02:37 Folks, look, today's historic agreement

02:40 is yet another piece of good economic news,

02:43 showing something I've always believed -- worker power.

02:47 Worker power is critical to building an economy

02:50 from the middle out and the bottom up.

02:52 and so is economic growth.

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