US Steel announced this week that it plans to reopen its shutdown plant in Keewatin, and previously laid off employees will be given jobs back. These plans stem from the fact that American steel production was a common theme at Donald Trump's rallies during the presidential campaign.
US Steel CEO Mario Longhi has expressed optimism about the potential regulations of the new tax code and hinted that he will re-hire the laid-off employees. The reopening of the plant is a boost for the American steel industry following the recent layoffs of metallurgists across the country.
In addition to US Steel's actions, December was generally a good loan for US production. The index, which tracks the value of 15 steelmakers in the Americas, increased 86% in 2016, the largest jump since 2003. In addition, the Steel Index made an 18% jump in the week that Donald Trump won the election.
US Steel plans to reopen shutdown plant
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