In a statement, U. S. Steel chief executive David Burritt said the agreement is fair and is in the best interests of U. S. Steel employees, customers and shareholders. 

“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,” he said. 

In a separate announcement, the union’s bargaining committee said it is recommending that the rank-and-file ratify the contract.  

“Thanks to the overwhelming solidarity and support we received from members at every facility throughout this process, the committee was able to reach an agreement that we are all proud to put forward for your vote,” the committee said. 

The two sides have been working on a new contract since July. The previous deal expired 1 October, but the union was continuing to work under a contract extension.