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GM, new union strike deal for raises at central Mexico plant

By Daina Beth Solomon MEXICO CITY (Reuters) -General Motors and a new independent union at the U.S. automaker's biggest Mexico plant have reached a deal for a new workers'...
GM, new union strike deal for raises at central Mexico plant © Reuters. FILE PHOTO: A view of the main entrance of the General Motors' pickup truck plant as workers vote to elect a new union under a labor reform that underpins a new trade deal with Canada and the United States, in Silao, Mexico February 1, 2022. REUTERS/Sergi

By Daina Beth Solomon

MEXICO CITY (Reuters) -General Motors and a new independent union at the U.S. automaker's biggest Mexico plant have reached a deal for a new workers' contract that includes raises and benefits above inflation, the union said on Wednesday.

The negotiations at GM's plant in the central city of Silao in Guanajuato state marked a high-profile test case for a new trade deal's goal of reducing the vast wage gap between U.S. workers and their Mexican counterparts.

The agreement comes after talks began several weeks ago, and forestalls a May 31 deadline for workers to strike.

"The new collective contract improves labor conditions on all levels," the union, SINTTIA, said in a statement. "The agreed deal includes an economic package of salary increases and economic benefits that is above inflation."

SINTTIA did not provide further details about the above-inflation wage deal. Mexican headline inflation rose 7.68% in the year through April to its highest levels since January 2001.

GM did not immediately reply to a request for comment.

SINTTIA became the first independent union in the GM Silao plant's 25-year history in one of the first union elections under the trade deal, the United States-Mexico-Canada Agreement (USMCA).

The provisions in the 2020 deal that replaced the North American Free Trade Agreement (NAFTA) were meant to help Mexican workers elect unions that will best fight for their interests, breaking the grip of business-friendly groups that operated behind workers' backs for years as cheap labor lured companies to Mexico.

Reuters reported last month that SINTTIA initially proposed a 19.2% raise, citing rising inflation in Mexico, which GM countered with an offer of 3.5%.

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23-05-2022 12:04:50 (UTC+7)

EUR/USD

1.0591

+0.0031 (+0.29%)

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↑ Buy

Moving Avg:

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Indicators:

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EUR/USD

1.0591

+0.0031 (+0.29%)

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GBP/USD

1.2545

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USD/JPY

127.46

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AUD/USD

0.7087

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USD/CAD

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EUR/JPY

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1.0294

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Silver Futures

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US Coffee C Futures

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Euro Stoxx 50

3,657.03

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S&P 500

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DAX

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FTSE 100

7,389.98

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20,337.00

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US Small Cap 2000

1,773.27

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IBEX 35

8,484.50

+78.50 (+0.93%)

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BASF SE NA O.N.

48.850

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Bayer AG NA

63.74

+0.34 (+0.54%)

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Allianz SE VNA O.N.

195.58

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Adidas AG

172.80

+0.92 (+0.54%)

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Deutsche Lufthansa AG

6.852

+0.049 (+0.72%)

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Siemens AG Class N

115.08

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9.362

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 EUR/USD1.0591↑ Buy
 GBP/USD1.2545Neutral
 USD/JPY127.46↑ Buy
 AUD/USD0.7087↑ Sell
 USD/CAD1.2803↑ Buy
 EUR/JPY134.99↑ Buy
 EUR/CHF1.0294↑ Buy
 Gold1,853.29↑ Buy
 Silver21.877↑ Buy
 Copper4.3030Neutral
 Crude Oil WTI110.77↑ Sell
 Brent Oil110.60↑ Sell
 Natural Gas8.192Neutral
 US Coffee C216.48↑ Buy
 Euro Stoxx 503,657.03↑ Buy
 S&P 5003,901.36↑ Buy
 DAX13,981.91Buy
 FTSE 1007,389.98Neutral
 Hang Seng20,337.00↑ Sell
 Small Cap 20001,773.27↑ Buy
 IBEX 358,484.50Neutral
 BASF48.850Buy
 Bayer63.74Buy
 Allianz195.58Buy
 Adidas172.80Buy
 Lufthansa6.852↑ Sell
 Siemens AG115.08Neutral
 Deutsche Bank AG9.362Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,880/ 6,980
(5/ 5) # 1,769
SJC HCM6,895/ 6,985
(0/ 0) # 1,774
SJC Hanoi6,895/ 6,987
(0/ 0) # 1,776
SJC Danang6,895/ 6,987
(0/ 0) # 1,776
SJC Nhatrang6,895/ 6,987
(0/ 0) # 1,776
SJC Cantho6,895/ 6,987
(0/ 0) # 1,776
Cập nhật 23-05-2022 12:04:52
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RON 95-V30.58031.190
RON 95-III29.98030.570
E5 RON 92-II28.95029.520
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WTI$110.22-0.52-0.47%
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.005,0023.315,00
EUR23.899,8625.238,69
GBP28.277,1029.483,51
JPY176,47186,83
KRW15,8019,25
Cập nhật lúc 11:59:19 23/05/2022
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