President Joe Biden addressed the ongoing auto strike and contract negotiations between the United Auto Workers (UAW) and the Big 3 auto companies: Ford Motor Company (NYSE: F), General Motors Company (NYSE: GM), and Stellantis N.V. (NYSE: STLA). He acknowledged the UAW workers' contributions to the industry's success and the need for fair compensation.

President Biden emphasized the positive impact of unions on workers, wages, homeownership, retirement savings, benefits, and reducing inequality, highlighting their role in strengthening the economy.

He stressed the importance of strong unions for economic growth, especially during the transition to a clean energy future. Biden expressed his belief that the contract should lead to a vibrant, made-in-America future with strong middle-class jobs.

The President acknowledged the UAW's right to strike and the workers' frustration, given their sacrifices to keep the industry strong. He encouraged the parties to work towards a win-win agreement and urged the companies to ensure that record corporate profits translate into fair contracts for the UAW.

To support negotiations, President Biden dispatched Acting Labor Secretary Julie Shu and White House Senior Advisor Gene Sperling to Detroit. The President concluded by emphasizing that auto workers, who played a significant role in building America's middle class, deserve a contract that sustains them and the middle class.