United States Steel would like to accelerate its investments and hire back laid-off employees now that Donald Trump will be occupying the Oval Office, CEO Mario Longhi told CNBC on Wednesday.
"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," he said in an interview with CNBC's "Power Lunch."
In addition, the belief that the U.S. economy can grow at least 3.5 percent also adds to what the company can do, Longhi noted.
"I'd be more than happy to bring back the employees we've been forced to lay off during that depressive period," he said, which could be close to 10,000 jobs.
Shares of the Pittsburgh-based company have soared about 80 percent since Trump's stunning victory on Nov. 8.
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And Mr Trump hasn't even been sworn in yet.
ReplyDeleteWhats your point here Roscoe ???
DeleteThey also know that Trump will stop the Chinese from dumping cheap steel in the US.
ReplyDeleteHow many of you own shares in US steel? I bet there are a bunch of politicians that do!
ReplyDelete