U.S. Steel CEO: We’re hiring all the time
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U.S. Steel CEO: We’re hiring all the time

August 14, 2019


CONNELL: ALL RIGHT, BOY WHAT A DAY. THE DOW REBOUNDING FROM THAT 780 POINT DROP TODAY, ENDING DOWN, JUST 79 POINTS AT THE END OF THE SESSION. CERTAINLY WELL OFF THE LOWS. YOU HAD THAT REPORT THAT CAME OUT THAT MELISSA WAS TALKING ABOUT FROM THE “WALL STREET JOURNAL” SAYING THAT THE FED IS CONSIDERING MORE CAUTIOUS APPROACH TO RATE HIKES.
THAT THE FED IS CONSIDERING MORE CAUTIOUS APPROACH TO RATE HIKES. CERTAINLY HELPED MARKET IN THE END. YOU HAVE TRADE CONCERNS IN THERE. THOSE REMAIN AT TOP OF MIND FOR INVESTORS, ONE COMPANY THAT BENEFITED FROM THE PRESIDENT’S APPROACH ON TRADE IS THE ONE WE HAVE BEEN VISITING TODAY. HERE NOW, IN A FOX BUSINESS EXCLUSIVE INTERVIEW IS DAVID BURR — DAVID BURRITT CEO.>>THANKS FOR COMING OUT. CONNELL: WE LEARN A LOT COMING OUT TO BUSINESSES. ONE OF THE THINGS I LEARNED ABOUT YOUR BUSINESS, THESE TARIFFS, CURRENT APPROACH ON TRADE IS IMPORTANT. HOW IMPORTANT. CAN YOU QUANTIFY FOR US?>>THESE ARE VERY IMPORTANT. TOOK A COURAGEOUS PRESIDENT WITH A LOT OF SUPPORT FROM A LOT OF PEOPLE, DO THE RIGHT THING TO GIVE US A LEVEL PLAYING FIELD TO HAVE FAIRER TRADE. IT HAS BEEN A BIG PLUS FOR US. CONNELL: HE TALKED SO MUCH ABOUT IT. IN FACT I’LL PLAY A SOUND BITE FOR OUR AUDIENCE. WE’LL COME BACK AND PRESIDENT TRUMP, HE MENTIONS YOUR INDUSTRY ALL THE TIME, HERE IS THE PRESIDENT EARLY NOVEMBER, BEFORE THE MIDTERMS. TAKE A LISTEN.>>OUR STEEL INDUSTRY IS NOW THRIVING, GETTING BETTER EVERY SINGLE DAY. IT IS JOBS, AND MONEY POURING INTO OUR COVERS. IT’S BEAUTIFUL. CONNELL: DAVID, WHAT HE SAID THERE WAS, IT’S BEAUTIFUL AND IT’S JOBS AND IT’S MONEY POURING INTO OUR COUNTRY. THAT’S MY QUESTION FOR YOU. I KNOW YOU’VE BEEN MAKING MORE MONEY. THAT’S GREAT. HOW MANY PEOPLE HAVE YOU HIRED SINCE TARIFFS WENT INTO PLACE, AND MORE IMPORTANTLY HOW MANY PEOPLE DO YOU PLAN TO HIRE NEXT YEAR?>>THAT EVENT YOU SAW IS IN GRANITE CITY WHERE WE OPENED UP A COUPLE BLAST FURNACE, WE WERE DELIGHTED TO HAVE THE PRESIDENT TO BE THERE, TO DEMONSTRATE 800 JOBS WERE ADDED. YOU HEARD WE HIRED SOME 400 PEOPLE THIS YEAR. CONNELL: RIGHT.>>FOR US IS KEY ISSUE IS AROUND NATIONAL SECURITY, THAT IS WHY IT IS SO IMPORTANT. YOU SEE ACROSS THE WHOLE COUNTRY, NUMBER OF BLUE-COLLAR JOBS INCREASED. BEST BLUE-COLLAR. CONNELL: WILL YOU HIRE MORE PEOPLE NEXT YEAR?>>WE’RE HIRING ALL THE TIME. CONNELL: BECAUSE I SAW A HELP WANTED SIGN ON MY WAY IN HIRE. THAT MUST BE A PRETTY GOOD SIGN?>>WE’RE LOOKING FOR OPPORTUNITIES TO WHERE WE SERVE OUR CUSTOMERS BETTER. WE’LL MAKE SURE WE HAVE THE RIGHT PEOPLE AT THE RIGHT TIME. CONNELL: ONE OF THE REASONS I ASK YOU OR PRESS YOU, I WONDER WHETHER THE SITUATION, TALKING ABOUT THE LAST PART OF OUR SHOW, THE SITUATION WITH TARIFFS IS TEMPORARY OR PERMANENT? IN OTHER WORDS THERE IS A THEORY OUT THERE THE PRESIDENT IS USING
IN OTHER WORDS THERE IS A THEORY OUT THERE THE PRESIDENT IS USINGTARIFFS AS A NEGOTIATING TACTIC. TARIFFS AS A NEGOTIATING TACTIC. THEY MIGHT GO AWAY. WHAT HAPPENS IF THEY DO?>>WELL WE DON’T SEE IT AS NEGOTIATING TACTIC. WE SEE THESE TARIFFS BEING ENDURING FOR THE FORESEEABLE FUTURE. CONNELL: OKAY.>>LOOK WHAT THE RESULTS HAVE BEEN WITH THIS PRESIDENT. HE IS GETTING A LOT OF THINGS RIGHT HERE. CERTAINLY FOR STEEL, IT’S A VERY GOOD THING. IF YOU LOOK AT ECONOMY, OBVIOUSLY A GREAT DEAL FOR THE ECONOMY. WHEN YOU LOOK AT EMPLOYMENT, UNEMPLOYMENT RATE, LESS THAN 4%, CONTINUES AT A LOW LEVEL. ACTUALLY LOOK AT PRODUCTIVITY NUMBERS COMING THROUGH. YET, YOU CAN’T HELP BUT FEEL GREAT ABOUT WHAT’S HAPPENED. DEREGULATION, TAX REFORM, YOU KNOW, AGAIN, A LOT OF THINGS HAPPENED. CONNELL: THAT HAS BEEN TERRIFIC THIS YEAR. HAS HE PERSONALLY ASSURED YOU IT WILL CONTINUE? YOU TALKED TO PRESIDENT TRUMP.>>THE PRESIDENT CAN’T GIVE ANYBODY ASSURANCES. CONNELL: NOT ABOUT THE ECONOMY. WHAT ABOUT THE TRADE POLICY HAS HE ASSURED –>>I DON’T BELIEVE THE PRESIDENT CAN GIVE ANYBODY ASSURANCES ON ANYTHING BUT WE BELIEVE THIS PRESIDENT WILL NOT BLINK. WE ARE CONFIDENT THAT HE WILL CONTINUE TO DO THIS UNTIL WE GET TO FAIR TRADE. IT COULD BE QUOTAS A COMBINATION IT IS NOT SO MUCH ABOUT TARIFFS. IT COULD BE QUOTAS A COMBINATION OF THINGS. CONNELL: OKAY.>>HE IS DOING TOUGH THINGS TO GET PEOPLE TO THE TABLE TO HAVE A CONVERSATION. A LITTLE BIT OF CARROT, A LITTLE BIT OF STICK. EVENTUALLY PEOPLE HAVE COME AROUND. WE’VE BEEN IN A TRADE WAR FOR STEEL FOR 30 YEARS. CONNELL: RIGHT.>>WE’RE FINALLY GETTING A CONVERSATION. WE’RE HERE WITH YOU NOW. PEOPLE ARE LISTENING. THEY UNDERSTAND THIS IS THE VITAL TO SECURITY OF THE UNITED STATES. CONNELL: I GET IT. YOUR ARGUMENT IS ESSENTIALLY NOT THAT HEY, WE’RE GOING INTO A TRADE WAR. THAT YOU HAVE BEEN ON THE LOSING END OF ONE AND YOU NEEDED TO LEVEL THE PLAYING FIELD, I TOTALLY GET THAT. ON OTHER SIDE OF IT, YOU HEARD THIS BEFORE, END-USERS, COMPANIES BUYING STEEL MADE HERE, THEY SAY HEY, LISTEN I’M PAYING MORE NOW. I HAVE TO PASS ALONG COSTS TO MY CONSUMERS OR EAT IT, HAVE A LOWER PROFIT MARGIN. AND AS A RESULT WE GET DOWN THE LINE ALL THAT KIND OF THING COULD SLOW ECONOMIC GROWTH?>>WE APPRECIATE THE PRICES TO OUR CUSTOMERS HAVE GONE UP, WE UNDERSTAND THAT, BUT IF YOU LOOK AT THE TOTAL INCREASE IN THAT PRICE, IT IS REALLY NOT SUBSTANTIAL, FOR AN AUTOMOBILE FOR EXAMPLE, AVERAGE COST OF CAR $30,000, THE STEEL IS AROUND $1000. IT IS NOT A BIG NUMBER. EVEN THOUGH PRICES GOING UP NOW, DO YOU REMEMBER ANYBODY COMPLAINING ABOUT THE PRICES OF 2015 WHEN THEY DROPPED 40%? DID YOU HEAR ANYBODY SAYS PRICES OF CONSUMERS — I DON’T THINK SO. CONNELL: RIGHT.>>THIS IS EBB AND FLOW YOU HAVE TO GET YOUR HEAD AROUND, THIS IS
>>THIS IS EBB AND FLOW YOU HAVE TO GET YOUR HEAD AROUND, THIS IS VITAL TO NATIONAL SECURITY. IF YOU DON’T HAVE STEEL, YOU DON’T HAVE A COUNTRY. YOU CAN’T HAVE GOOD MANUFACTURING. IF YOU WANT TO OUTSOURCE THE JOB, LET PEOPLE TAKE AWAY THE ECONOMY YOU WILL NOT HAVE A FUTURE FOR OUR KIDS. IF YOU WANT TO BE IN A FIGHT, YOU WANT IT WHEN YOU’RE TOUGH. OUR ECONOMY IS HEALTHY. BRING IT ON, CHINA. NOW IS THE TIME TO BE SERIOUS. HOW MANY TIMES DO VERY PASS THINGS ON TO OUR KIDS. LET’S SOLVE THIS NOW, NOT KICK THE CAN DOWN THE ROAD 20 OR 30 YEARS. CONNELL: I UNDERSTAND PEOPLE WANTING TO GO AFTER CHINA, WE’RE IN THE MIDDLE OF THAT TRADE NEGOTIATION NOW. SOME SAY PUTTING TARIFFS IN PLACE ON SO-CALLED ALLIES IS NOT WAY TO DO IT, CANADA, OTHER COUNTRIES.>>THEY ARE ALLIES AND WE REALLY APPRECIATE THEY’RE ALLIES, WHEN IT COMES TO STEEL, THEY’RE NOT ALWAYS GOOD CITIZENS. THEY’RE BAD ACTORS. WE HAVE SOUTH KOREA, FOR EXAMPLE, BASICALLY HAS 40 TO 50% OF THE IMPORTS IN THE U.S., THEY
EXAMPLE, BASICALLY HAS 40 TO 50% OF THE IMPORTS IN THE U.S., THEY ACTUALLY DON’T EVEN HAVE A DOMESTIC MARKET. THEY HAVE WORLD CLASS STEEL FACILITIES BUILT BY THEIR COUNTRY, RIGHT? WE ALSO HAVE PEOPLE, WITH THE “WHACK-A-MOLE” SCENARIO. CONNELL: YEAH.>>IF YOU DON’T PUT IT EVERYWHERE, HOW CAN YOU BRING THE PROBLEM BACK TO THE SOURCE WHICH WAS LARGELY WITH, LARGELY WITH CHINA? YOU THINK ABOUT IT. EXCESS CAPACITY OF CHINA IS TWO TRIALS THE PRODUCTION CAPACITY IN THE UNITED STATES AND JAPAN. CONNELL: FINAL POINT, WE’LL WRAP IT UP HERE, IF YOU’RE SO OPTIMISTIC TO THE ECONOMY, HOW MUCH ARE YOU ADDING TO CAPACITY? HOW AGGRESSIVE ARE YOU NEXT YEAR?>>WELL WE ADDED CAPACITY AT GRANITE CITY FOR SURE. WHAT WE’RE FOCUSED ON REVITALIZING ASSETS, WE RUN ASSETS BETTER WHEN WE SPEND MONEY ON THEN. WE SPENT $2 BILLION ON REVITALIZATION PROGRAM WHICH GETS US 15% RETURN BY 2020. WE ARE LOOKING AT ASSETS NOT WORLD CLASS STANDARDS WE CAN DO BETTER FOR SAFETY, QUALITY, DELIVERY AND COST. WHEN WE FOCUS ON THOSE THINGS, WE FOCUS ON PEOPLE, WE GET RESULTS FOR OUR CUSTOMERS AND OUR STOCKHOLDERS. CONNELL: THANK YOU VERY MUCH, TALKING ABOUT WHAT IS A VERY IMPORTANT ISSUE FOR PEOPLE AROUND THE COUNTRY. WE’LL LATER SHOW PEOPLE HOW THE

52 Comments

  • Reply a hole December 6, 2018 at 11:22 pm

    Trump is a ass-kicker!

  • Reply dThor Riven December 6, 2018 at 11:29 pm

    😤🤬Yeah hiring and firing 😰😭 all the time 🤔💭🦉📑📈📉📈📉

  • Reply dThor Riven December 6, 2018 at 11:35 pm

    Hey 👋😁 I can weld with one hand just like robotic arm
    Maybe I can weld you a steel hard hat 😅

  • Reply dThor Riven December 6, 2018 at 11:42 pm

    Strong 💪🏻success

  • Reply Jsans75 December 6, 2018 at 11:50 pm

    Trump's tax promise of trillions back to US fails to materialize: Trump said more than $4 trillion will return to the US. Not even $1 trillion has come back to the US. Many companies are still keeping their foreign profits offshore.

  • Reply brian stuart December 6, 2018 at 11:55 pm

    yeah 10 bucks an hour sure you'll be hiring all the time no one wants to work for you

  • Reply Blujonny11 December 7, 2018 at 12:03 am

    This interviewer is an idiot. He knows damn well the steel tariffs aren't temporary. Sure there are other tariffs with China which are under negotiation but like Trump says, this is about national security. He's not going to let the U.S. become a country that has to export steel from other super powers.

  • Reply MrL TLB December 7, 2018 at 12:05 am

    LMAO! Just because 1 company is Hiring that doesn't mean it's not gonna stop other Companies from Closing and causes Tens of Thousands even Hundreds of Thousands of Citizen's to lose their Jobs…

  • Reply minuteman2012 December 7, 2018 at 12:11 am

    Listen at 512…

  • Reply Arsmortis7 December 7, 2018 at 12:19 am

    Of course he loves the steel tariffs, they jacked steel prices up through the roof and this man sells steel his profit margin just doubled. On the other hand, the people that buy steel and use a technical skill to turn it into something useful are getting shafted and laid off.

  • Reply W TF? December 7, 2018 at 12:25 am

    President Trump !
    USA, USA, USA, USA!
    🇺🇸TRUMP MAGA🇺🇸

  • Reply Ma Ni December 7, 2018 at 12:27 am

    It is not only national security but the quality of the product and jobs,jobs,jobs.

  • Reply David Lindsey December 7, 2018 at 12:33 am

    the ceo should of smack fox reporter .. lmao .. he grilled him on tariffs and the story was appose to be about jobs….wtf and With out tariffs there would be no steel in the u.s I support this approach and recommend America quit out sourcing before we lose of our raw material sources

  • Reply C&C Vee December 7, 2018 at 12:47 am

    We can't train employees fast enough at my job. We are swamped since Trump!

  • Reply Thanks Obama December 7, 2018 at 12:57 am

    Nothing the Millennials Hate more than Hard Work…Sweating is only for sex with themselves…

  • Reply Tree Fitty December 7, 2018 at 1:14 am

    Fucking soyboy reporter. I hate the media.

  • Reply T H December 7, 2018 at 1:20 am

    just landed a high paying job at a aluminum forging company !

  • Reply Gabe P December 7, 2018 at 1:33 am

    Not to be a troll but seriously when is any business going to come out and say we are not hiring but in fact are laying people off……for crying out loud Enron even told investors they were a great company to invest days before the hammer came down.

  • Reply TraRob-EastSide December 7, 2018 at 1:41 am

    They may be hiring but are they investing in outsider and on the job training. There arent many jobs americans wont do but access to education to allow us to fill those void

  • Reply sir robert December 7, 2018 at 1:50 am

    rebuild America with American steel and American jobs

  • Reply Xiao Liu December 7, 2018 at 1:52 am

    But more car companies shut down

  • Reply Mr. D BOI December 7, 2018 at 1:53 am

    People need to stop spending like they're Congress and get on budgets. Let competition bring quality jobs in to America. God bless Murica!

  • Reply Satou December 7, 2018 at 1:59 am

    We’re hiring all the time justa like we’re fire even more people all the time

  • Reply Hyper Focus December 7, 2018 at 2:02 am

    Wow, Fox business' tariff fear mongering narrative has failed. Despite constant parroting.fake news.

  • Reply hecke1959 December 7, 2018 at 2:17 am

    Yes we subsidized the world in steel.

  • Reply the rooster December 7, 2018 at 2:24 am

    Tarrif all gm imports. Big time

  • Reply Chip Dog December 7, 2018 at 2:38 am

    A lot of people are not okay with us putting tariffs on our allies, like Canada, but those same people are okay with Canada putting tariffs on us. Huh?

  • Reply Antonio Marron December 7, 2018 at 2:42 am

    3 things.

    1. Having a trade imbalance inst bad….because that means americans and American companies have money to buy products overseas as well as at home.

    2. One company doing good ( hiring 400 people) does not negate the thousands being laid off from GM alone…. ot including Ford and other countries.

    3. The economy has been doing well for years, during and before Trump. Hate Obama all you want…facts dont care about your feelings. Growth and unemployment have been trending well for years. We have been a greased recovery thats now starting to slow down.

    Edit. I lool at the pay that US steel is hiring at….makes sense they have vacancy

  • Reply Choco Latte December 7, 2018 at 3:48 am

    I like this Burritt guy. Really down to earth. Hello West Mifflin from a Tioga County son.

  • Reply Manuel Rivera December 7, 2018 at 4:11 am

    It's amazing to see all the negative comments..socialist losers stop crying..manny the hispanic

  • Reply Freedom USA December 7, 2018 at 4:29 am

    Most of the Fox reporters rudely interrupt their guests, it's so irritating! Let the man finish a sentence!

  • Reply Lynn W December 7, 2018 at 3:31 pm

    Yea both brand new bridges in fl collapse one day after they opened, it had to be the poor quality, steal in the structure, know doubt it was Chinas

  • Reply Michael Zimmermann December 7, 2018 at 11:16 pm

    Steel tariffs of 25% gave the US producers the ability to add an additional 15% to their product. The 1% (stock holders) gain on the backs of the consumer. Higher prices for steel products.
    If your an Americunt you won’t get it, just to stupid.

  • Reply Roger Onslow December 8, 2018 at 10:20 am

    Listen to the man…it's a matter of national security. ie You cannot afford not to have steel production in your country.

  • Reply - dwasilco412 - December 8, 2018 at 5:41 pm

    All you people talking shit. What are you doing to help out or improve anything? Continuously bitching and putting down the president and the country definitely isn’t going to help anybody. Never rely on the president, the government, the country, and your fellow citizens. Try to do whatever you can, no matter how small, to improve yourself and the overall situation. Be the change that you seek. I bitched and moaned and only cared about myself for the first 32 years of my life. I’m trying to take a different approach now.

  • Reply EYE of FIVE December 9, 2018 at 3:39 pm

    Yea GM also got benefited by orange 🍊

  • Reply mj Jones December 9, 2018 at 4:08 pm

    I work in a steel mill in Chicago heights, and the pay rate is bad

  • Reply K24 Accord December 9, 2018 at 11:42 pm

    My job is always hiring all the time because lazy people do not want to work..they wana take it easy all day and get paid for nothing…simple as that….people are lazy lazy and dont want to work..too much work os being created…if i want i can have two full time jobs right now..done it before…

  • Reply brian stuart December 10, 2018 at 10:11 pm

    and you can't believe what Fox news is saying so this is a presidential Showboat are u.s. steel so you can't believe what they're saying either

  • Reply steve bartz December 11, 2018 at 1:06 am

    Too bad US Steel didn't pass their good fortune on to us workers. All they wanted in our contract in september was concessions, concessions, concessions. Fuck US Steel.

  • Reply Jane Young December 12, 2018 at 2:28 am

    100% on board with our Presidents Foreign Trade Policies! Shame Liberals hinder our efforts to put our country first! Unconscionable to me that other Presidents didn't! Gee, almost like they wanted to break our economy and the spirit of nation! Go figure! And that would make them….what? Traitors?

  • Reply J. Rider December 12, 2018 at 5:33 am

    This is fake news I've been applying with us steel for 3 years I've tested and interviewed for multiple positions at multiple locations this is a bold face lie fake news and 1 of the interviews was at West mifflin u.s.steel is the next G.E.

  • Reply Tim Blake December 13, 2018 at 10:07 am

    That interviewer sounded like he was from CNN but it's perfectly fine for China to tariff the hell out of us .I'm just glad to see people going back to work I know that upsets a lot of folks but oh well..

  • Reply mdo686 December 15, 2018 at 10:26 pm

    National security? BULLSHIT!

  • Reply Tom Dockery December 16, 2018 at 4:01 pm

    Are they bigger than is the Mafia?

  • Reply Monk Amani January 2, 2019 at 5:14 pm

    Yeah, right. See the glory of the Royal Scam.

  • Reply KingJustice98 January 12, 2019 at 11:49 pm

    "You will seek out employees but will not find them. You will offer high wages but will be turned away. In your times of wealth you exploited the poor, you worked your employees heavily, you discriminated harshly against Latinos. You pocketed as much wealth as you could, not even giving small bonuses owed to workers. You will receive your reward in full."

  • Reply KingJustice98 January 12, 2019 at 11:54 pm

    "You will have contracts to build houses but no workers to build them, fields to plow with no workers to plow them. Goods to ship with no one to ship them."

  • Reply NWI RailFan January 27, 2019 at 6:54 pm

    Yea what does that tell you ? The jobs are a pos

  • Reply Andrew Neilson February 17, 2019 at 5:58 pm

    Rebuild Geneva Steel in Utah the best Company that ever happened to Utah!!

  • Reply Lori Boyters February 28, 2019 at 6:18 am

    U.S. Steel and CORSA coal are going to go up because of Trump. CORSA coal mines for the type of coal needed to melt metal to create steel. Only 65 cents a share right now, but they expect it to go up 33% in 2019. Thanks President Trump!

  • Reply Pat B March 21, 2019 at 4:38 pm

    Trump puts Americans first as he promised, helps drive the economy to sauces and yet he's a "traitor" according the the dems that want to increase taxes on Americans to pay for illegals. Trump is the boss I can only dream of having a real leader like him here in Canada instead of the soy boy man child we have as "leader"!

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