The Interchange

Union Pacific’s CEO discusses a potential acquisition of Norfolk Southern with Donald Trump, signaling interest in a transformational freight rail deal with national ramifications. Consolidating two major carriers would reshape routing, terminal operations, and service patterns for shippers, with consequences for network capacity, labor, and competitive access across key corridors. Any bid would have to be structured to withstand market scrutiny, secure financing, and address extensive regulatory review and public‑interest tests. Stakeholders from customers to local governments would scrutinize potential benefits and risks, including service reliability and pricing, before an agreement could advance.