U.S. Steel CEO Mario Longhi said Wednesday he’s “more than happy to bring back the employees we’ve been forced to lay off” now that Donald Trump will be the President of the United States.
“I’d be more than happy to bring back the employees we’ve been forced to lay off during that depressive period,” Mr. Longhi told CNBC during an interview on “Power Lunch.” That means United States Steel Corp (NYSE:X) would bring back roughly 10,000 jobs.
Shares of the Pittsburgh-based company have appreciated by roughly 80% since President-elect Trump’s landslide victory against Democrat Hillary Clinton on November 8. One of the states that would benefit from the reinvestment would be one that played a major role in his election–Pennsylvania. Mr. Trump promised further restrictions on China-produced steel, which would be a great boon to the company and The Keystone State.
“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 added. “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.”