US-POLITICS-TRUMP US President Donald Trump makes an announcement on steel in the Oval Office of the White House in Washington, DC, on September 28, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)
A proposed $15 billion steel plant in eastern Iowa promises to be the largest one in the United States when it opens in 2030. President Donald Trump announced the project from the White House on Monday afternoon, explaining that the project will help protect national security.
Big picture view:
The plant is being built by Mesabi Metallics, a Minnesota-based company owned by the Indian industrial conglomerate Essar Group and is expected to create more than 2,000 jobs. When fully operational, the mill is projected to produce 10 million tons of steel from iron ore that is sourced from a new Minnesota mine that was also developed by Mesabi.
What they're saying:
"President Trump is delivering on his promise to rebuild American industry, reshore manufacturing, and create new jobs," Taylor Rogers, a White House spokesperson, said in a statement. "Today’s announcement underscores the President’s historic efforts to revitalize the U.S. steel industry."
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The backstory:
The new plant comes after the Trump administration raised tariffs on imported steel and aluminum to 50% earlier this year. While the move was designed to protect American industry, it also threatened to raise prices on many consumer products like refrigerators and cars.
Dig deeper:
Trump made the announcement from the Oval Office, surrounded by steel industry executives, commerce officials, and political figures from the Hawkeye State. The Associated Press noted that it comes as Republicans are trying to energize voters, including those in Iowa, where the races for governor and U.S. Senate are seen as competitive.
The Source: Information for this article was taken from the Associated Press and the White House announcement from the Oval Office. This story was reported from Orlando.