Detroit Three under pressure to progress UAW talks, avoid wider auto strikes

The United Auto Workers (UAW) and Detroit’s Big Three automakers face a looming deadline to reach a new contract before the union expands its strikes. UAW demands include higher wages and ending wage disparities among workers. GM, Ford, and Stellantis have offered 20% raises over 4.5 years, while UAW seeks a 40% hike. S&P predicts prolonged strikes may reduce Q3 U.S. GDP by 0.39%. Toyota benefits from the strike as it lacks unions in its U.S. factories.