Steelworkers, U.S. Steel Reach Tentative Contract Agreement

By Micah Maidenberg

The United Steelworkers union has struck a tentative agreement for a new labor contract with U.S. Steel Corp.

A spokesman for the union said in an email Monday afternoon the initial deal was in place, but further details weren't immediately available.

Workers for the Pittsburgh-based steelmaker have been pushing for raises in a new contract. The implementation of 25% tariffs on steel imports have helped U.S. steel companies raise prices amid strong economic growth.

A U.S. Steel spokeswoman didn't immediately respond to a request for comment. Workers had previously authorized union leaders to call a strike if negotiations faltered.

ArcelorMittal SA management and employees represented by the United Steelworkers also are bargaining over a new contract.

ArcelorMittal and U.S. Steel account for 40% of U.S. production capacity of flat-rolled steel that is used across the industrial sector.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

October 15, 2018 16:45 ET (20:45 GMT)

ArcelorMittal (EU:MT)
Historical Stock Chart
From Mar 2024 to Apr 2024