re: U.S. Steel CEO Says 10,000 Jobs To Be Brought Back… All Because Of Trump

I'm not familiar with the source of the article. There's something similar on CNBC: LINK

Most steel mills open in the US today are known as minimills, and mostly depend on scrap as a raw material source. Nucor and AccelorMittle are the more well known minimill operators. I've debated if we should restrict exportation of steel scrap to China just to maintain those raw material resources within our borders.

There's actually still a full process mill in Braddock, Pennsylvania known as the Edgar Thomson Works. I believe it is one of the few left in the US today that isn't a minimill. I know US Steel shut down the blast furnace of their Alabama plant within the last year or two.


From CNBC:

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"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."

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It sounds like Trump is talking to big auto, big steel, and other big manufacturers in the US and trying to find out what their issues are and using them to develop policy that can help facilitate growth.

If he can stop the bleeding, that alone would be a huge achievement.

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Shares of the Pittsburgh-based company have soared about 80 percent since Trump's stunning victory on Nov. 8. Investors appear to be betting on increased infrastructure spending, which the president-elect has promised, as well as further restrictions on China-produced steel.

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