U.S. Steel Reach "Tentative Agreement" With Workers

(RTTNews) - United States Steel Corp. (X) Monday said it reached a "tentative agreement" with the United Steelworkers, likely ending a possible strike of about 14,000 USW-represented employees at the company's domestic flat-rolled and iron ore mining facilities as well as tubular operations.

"We are pleased to have reached a tentative agreement with the USW we believe is fair and in the best long-term interests of our employees and their families, as well as U. S. Steel's customers, stockholders and other stakeholders," said David Burritt, President and Chief Executive Officer of U. S. Steel.

"Together, we've agreed on terms that will create certainty and stability for our many stakeholders, enable our company to implement our long-term business strategy, which includes continued, responsible investments in our people and plants, and position U. S. Steel to remain a leader in the highly competitive global steel industry."

The US President Donald Trump had imposed tariffs on aluminum and steel imports, which increased domestic demand and turned out to be a financial help to struggling steel producers like ArcelorMittal and U.S. Steel.

Workers in the industry demanded a better contract and higher wages saying that the profits are not trickling down to low-level workers.