Autoworkers in Canada are set to vote on a tentative new labour pact with Ford Motor Co. (F).
Unifor, the union representing 5,000 autoworkers at Ford in Canada, will hold ratification meetings this week for a tentative contract agreement that was reached on July 11.
The union says details of the new contract will be presented to members at meetings starting on July 17 and continue over the weekend.
The tentative three-year deal has received the unanimous endorsement of Unifor’s bargaining team.
Negotiations began at the end of June as existing deals with the big three U.S. automakers, which also include Stellantis (STLA) and General Motors (GM), were set to expire.
The union chose to negotiate with Ford first. Unifor is expected to begin negotiations with the other two automakers after the Ford agreement is finalized.
Details of the new contract with Ford have not been made public. But the deal comes at a critical time for Canada’s auto industry as U.S. tariffs impact cross-border trade with America.
F stock has gained 18% in the last 12 months to trade at $14 U.S. per share.
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