This would happen across the entire business spectrum. Slash and Dash and let the economic boom begin.
United States Steel Chief Executive Mario Longhi has said 10,000 jobs in the steel industry could return if President-elect Donald Trump slashes regulations and cuts taxes.
Mr Longhi, speaking on CNBC, said: ‘I’m more than happy to bring back the employees that we were forced to lay off during the depressing period…could be close to 10,000 jobs.’
Later US Steel clarified that the number Mr Longhi was referring to was all the potential jobs in the steel industry, rather than jobs his own company could generate.
Pittsburgh-based US Steel has 21,000 employees in North America, down from 28,000 in 2007 and a fraction of the figure it employed in the 1960s.
The US steel industry as a whole has laid off more than 16,000 people since January 2015 and tens of thousands since its heyday.
Mr Trump has said he wants to renegotiate trade deals, invest in infrastructure and restore jobs, including those in the steel industry.
The Republican’s message was rewarded in the ‘Rust Belt’ states of Ohio and Michigan, which he won from Hillary Clinton, and he also ran her close in the traditional Democrat stronghold of Pennsylvania.
Mr Longhi blamed the dumping of low-priced Chinese steel in the US market for some of the redundancies.
But he also said: ‘We already structured to do some things, but when you see in the near future improvements to the tax laws, improvements to regulation, those two things by themselves may be a significant driver to what we’re going to do.’
US steelmakers have said dumping of cheap steel by China on world markets has made it difficult for them to compete.