US Steel has presented the United Steelworkers (USW) union with a proposal for a new five-year labour agreement.

The steelmaker believes the offer provides competitive compensation and benefits while supporting job stability.

The proposal includes:

  • A total wage increase of approximately 18.2% over the course of the contract.
  • No changes to the Carnegie Pension Plan or Steelworker Pension Trust.
  • No changes to the way profit sharing is calculated and its uncapped opportunity.
  • Upon ratification, all eligible employees will receive a $4,000 bonus.

Discussions between the two will continue this week, followed by a two-week bargaining period from 27th July.

Additional talks are expected to take place in Pittsburgh, on 10th August.