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NightTrain
12-09-2016, 12:22 PM
This is the kind of activity I was envisioning back in the primaries with Trump. It's crucial that we have our own domestic sources of steel - unfortunately, many of the secrets of high quality steelmaking have been stolen by the Chinese, but relying on other countries to import our steel is silly. It's how we build our weapons of war and construct our infrastructure and supply our factories.




With President-elect Donald Trump soon taking office, businesses are optimistic about the soon-to-be-changing economic landscape in the country. United States Steel is one such company that is already planning to do things differently under a Trump administration.

"We already structured to do some things, but when you see in the near future improvement to the tax laws, improvements to regulation, those two things by themselves may be a significant driver to what we're going to do," CEO Mario Longhi said in an interview with CNBC.


"I'd be more than happy to bring back the employees we've been forced to lay off during that depressive period," he added, which "could be close to 10,000 jobs."


The company later clarified that Longhi was referring to jobs in the steel industry as a whole, not just at U.S. Steel.


Promises of less regulation play a significant role in the optimistic outlook, although Longhi said not all regulation is a bad, it just “has to be done smartly.”


"When you get into some situations where we're being asked to control some substances in water that are far lower than what nature naturally offers, that's irrational," he said.


"There was a point in time in the past couple years that I was having to hire more lawyers to try to interpret these new regulations than I was hiring … engineers. That doesn't make any sense."


Shares of U.S. Steel have skyrocketed since the election, likely a result of Trump’s pledge to increase the nation’s infrastructure spending and a place more restrictions on China-produced steel.

http://townhall.com/tipsheet/leahbarkoukis/2016/12/09/us-steel-wants-to-bring-back-10000-jobs-n2257013

Elessar
12-09-2016, 02:27 PM
This is really great news if it indeed comes to pass.

It will strengthen Pittsburgh PA, Weirton and Wheeling WV. It will strengthen
the coal industry, railroads and truckers in the region.

Chinese steel is inferior in quality compared to ours (and the Germans) in the past.

fj1200
12-12-2016, 11:06 AM
Let's hope he doesn't make the same mistake Bush did:

http://www.heritage.org/~/media/infographics/2016/09/bg3150/bg-global-steel-market-chart-3.ashx