Leaders from Ontario and Quebec have called for a "swift resolution" to the strike on the St. Lawrence Seaway that has resulted in the loss of tens of millions of dollars in daily economic activity on the water.

Ontario Premier Doug Ford and Quebec Premier François Legault issued a joint statement today, Thursday, stating that the ongoing work stoppage, which started five days ago on the shipping route, "risks causing significant harm to our economies."

"Nearly $17 billion worth of goods were transported through this vital trade corridor last year alone," the premiers wrote in a statement: businesses and individuals across the country will soon feel the broader impacts if this disruption continues.

On October 21, 360 members of Unifor Local 4211, 4212, and 4323 in Ontario and Local 4319 and 4320 in Quebec left their jobs following negotiations over wage increases with their employer, the St. Lawrence Seaway Management Corporation (SLSMC), a nonprofit organization established by the Canadian government.

Unifor National President Lana Payne also stated that the strike follows a 72-hour strike notice submitted on October 18 after the failure to reach a resolution "despite ongoing negotiation efforts."

Payne said in a statement released on Wednesday: “This impasse is extremely unfortunate, but our members remain committed to reaching a fair agreement.”

Unifor indicated that mediation talks between the union and SLSMC are expected to take place in Toronto on Friday, which Ford and Legault remarked is welcome news.

Provincial leaders also referenced the British Columbia port strike, which occurred earlier this year and saw a 13-day work stoppage that prevented the movement of billions of dollars worth of goods, as a sign of what could happen if an agreement is not reached.

Ford and Legault said: "The economic risks are extremely high, with tens of millions of dollars lost each day the waterway remains closed."