American railway businesses and unions have reached a tentative hard work agreement amid the threat of strikes.

U.S. Secretary of Labor Marty Walsh announced the news on Twitter early Thursday, "following more than 20 consecutive hours of negotiations at" his office in Washington, D.C.

U.S. President Joe Biden released a assertion early Thursday, calling the tentative settlement "an important win for our financial system and the American humans."

The agreement is also a victory for railway companies who will be able to retain and recruit more workers for an industry that will continue

"As a result, we will keep Americans on the job in all the industries in this country that are touched by this vital industry," he added.

Details were not disclosed about the tentative agreement, which came ahead of Friday's strike deadline.

The National Carriers' Conference Committee (NCCC), which represents the U.S. freight railroads in national collective bargaining, said rail employees are provided