CNBC reports that the US Steel CEO wants to increase investments under the Trump presidency and bring back jobs. CEO Mario Longhi told CNBC on Wednesday that he wants companies to rehire laid-off employees in the entire American steel industry.
“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.”
He believes the US economy can grow at 3.5%.
“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.”
While Trump would like to see iPhones made in the US, they might not be able to make a viable product in the US.
Apple is in talks with Foxconn and Pegatron, the two manufacturing companies that are largely responsible for assembling iPhones, to bring manufacturing to the US. The problem is the expense of using American workers that could increase the cost of the iPhone by 50%. There is also a concern that the company won’t find US workers to work in the factories. The other concern is finding the workers with the skills to do it.
The fact that they are exploring it is a great thing. Let’s see how creative they can be.
In the meantime, Longhi is talking about 10,000 jobs!