The White House is doing everything it can to prevent train strikes on Friday, which could wipe out $2 BILLION every day from the US economy

The Biden administration is doing everything it can to avoid end-of-week freight transport strikes that could cost as much as $2 billion a day, further choking supply chains and leading to what the U.S. Chamber of Commerce warned it would be an “economic disaster.”

Secretary of Labor Marty Walsh has canceled travel plans and the White House is holding crisis meetings.

Unions and railroads have until Friday to agree contracts for tens of thousands of workers.

Failure can lead to strikes and lockouts by employers.

People familiar with the matter told the Washington Post that officials in the Biden administration have begun preparations for a potential shutdown and are warning of damage to the economy ahead of a crucial midterm election.

Joe Biden will be updated on progress, including meetings led by the White House National Economic Council

Labor Secretary Marty Walsh has postponed planned trips to Ireland to focus on talks

President Joe Biden, seen here visiting Boston’s Logan International Airport on Monday, has been kept abreast of the talks as the Friday deadline approaches

The Labor Department announced that Walsh had postponed his trips to Ireland so that he could remain involved in the talks.

“The parties continue to negotiate, and last night Secretary Walsh re-committed to pushing the parties to a solution that would prevent a closure of our rail system,” a spokesman for the Department of Labor said.

“All parties must remain at the table, negotiate in good faith to resolve outstanding issues and come to an agreement.”

The battle showed what was at stake as the country continues to build recovery from the coronavirus pandemic and supply chain shocks.

Biden has already created an emergency mediation board to prevent a crisis that critics say has been going on for years.

According to the Association of American Railroads, widespread disruptions could choke food and fuel supplies, fuel inflation and cost $2 billion a day in lost economic output.

The U.S. Chamber of Commerce wrote to Congress on Monday demanding action.

“A national rail strike would be an economic disaster – freezing the flow of goods, emptying shelves, closing workplaces and raising prices for both families and businesses – but that is exactly what is likely to happen in less than four days,” Suzanne said. Clark, the head of the U.S. Chamber of Commerce.

With a tricky midterm election ahead, the timing couldn’t be worse.

“The last thing they want right now is a major strike in a key sector like this,” Dean Baker, a White House ally and co-founder of the Center for Economic and Policy Research, told the Washington Post.

“I think Biden is going to push really hard to get a deal.

“Presumably he will put pressure on the employer’s side, but I’m sure he’ll put pressure on the union side as well… although it’s questionable how hard he’ll be willing to put pressure on the workers.”

By Sunday, 8 of the 12 unions had reached preliminary agreements, the National Railway Labor Conference said.

They were based on the recommendations of the Presidential Council for Emergency Situations, which called for wage increases of 24 percent over five years, $5,000 in bonuses and an extra day of paid leave per year.

But those agreements don’t include some of the largest unions and more than half of the 115,000 workers involved in talks.

As a result, railway companies have begun to implement closure plans.

On Sunday, Norfolk Southern, which has some 20,000 miles of routes across the east of the country, announced it was initiating contingency plans.

“While negotiations with the two tenacious unions continue, we still have no commitment not to strike and must act accordingly,” it said.