It was reported that United Steelworkers (USW) workers approved a new four-year contract with U.S. Steel by voting. The new contract would be effective immediately.

As for the wage, the contract guaranteed a 4% increase on wages this year, 3.5% increase in 2019 and 2020, and a 3% increase in 2021 except for US$4,000 signing bonus and no raise in health insurance premiums.

Moreover, the new contract also offered certain protection on retirement benefits and allowed capital investment on company’s facilities. This new contract would benefit around 14,000 steelworkers in the US.

USW members stated that they had made concessions in 2015 for the reason that US’ steel industry was experiencing a downturn. However, it was time for steelworkers to share the benefits as US' steel enterprises have earned much profit by government's imposing protection import tariffs.

Both USW and U.S. Steel had a happy agreement after countless talks and negotiations this year.