WASHINGTON—The biggest freight railroads and union leaders reached a tentative labor agreement to avert a nationwide strike that would have crippled swatches of the U.S. economy.
President Biden and White House officials interceded to broker a deal to avoid transport disruptions that could have snarled supply chains, putting new pressure on prices when inflation has been hovering near four-decade highs. Business groups and key rail customers, such as energy companies and national retailers, had been calling on the government to avoid a strike.
