US Steel CEO Mr Burritt Bullish on Infrastructure Investing in US
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US Steel CEO Mr Burritt Bullish on Infrastructure Investing in US

US Steel CEO Mr David Burritt joined Yahoo Finance on the highlights of the possible infrastructure bill and the risk of illegal steel entering the United

US Steel CEO Mr David Burritt joined Yahoo Finance on the highlights of the possible infrastructure bill and the risk of illegal steel entering the United States. He said “US Steel is mined, melted, and made in the USA. So whether it's water, whether it's roads and bridges, whether its cyber security, these are the kinds of things that this country needs, in fact, needed years ago. And I'm glad to see that we're building back better. So whether its water, roads, bridges, or cyber, we think this is a great time for us to have an infrastructure bill that will benefit so many people, great jobs, and certainly put the United States back where it should be with roads and bridges and infrastructure that our population expects and frankly deserves.”

Mr Burritt said “I think infrastructure bill is good for everybody in the steel industry in the United States. Now, for US Steel, the infrastructure bill, we look at that as, in terms of construction that would be about 15% of our business. And so in terms of what does that mean to us, I mean, I think it means more to the population than anybody else. So frankly, it's less about US Steel, it's less about the steel industry, and it's more about the population and creating some great jobs for people for the- the customers that we serve, our customer's customers, whether it be yellow products, the Caterpillars, the Deeres of the world that make the progress possible or it's the roads and bridges that need to be repaired and contain our steel.”

Mr Burritt added “And yes, we can supply the steel here from the United States. I know US Steel, we've had a V-shaped recovery with the auto industry, and we're trying to keep up with that. But everything was turned off so dramatically in the second quarter of last year trying to ramp up and understand what the demands are. But I have to say, I've gone from, you know, even back in the second quarter of last year cautiously optimistic to optimistic to, dare I say, bullish to bullish, and now I'm sensing there's going to be a super cycle here with lots of cash liquidity from the Fed.”

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