President Trump announced a $15 billion steel plant in Iowa, calling it a major boost for American steel production and domestic manufacturing. The plant is expected to produce 10 million tons of steel annually once fully built, with Trump crediting his 50% steel tariffs for bringing investment back to America.
BREAKING NEWS:
President Trump announced a new $15 billion steel plant in Iowa.
The project is being built by Mesabi Metallics, a Minnesota company owned by India’s Essar Group.
Trump said it will become the largest steel plant in the United States.
The plant is expected to produce 10 million tons of steel annually once fully built out.
Production is projected to begin in 2030.
The project will be supplied by a new $2.5 billion iron ore mine in Minnesota.
The steel is expected to be produced from start to finish in the United States.
Trump credited his 50% tariffs on steel imports for helping drive new steel investment in America.
Trump said the American steel industry is “roaring back to life.”
The steel produced will supply industries including national defense, automobiles, shipbuilding, appliances, energy and infrastructure.
Mesabi Metallics CEO Joe Broking called the announcement a “major moment for U.S. made steel.”
The announcement came alongside Iowa Republican leaders, including Gov. Kim Reynolds, Sen. Joni Ernst, Rep. Ashley Hinson and Rep. Mariannette Miller-Meeks.
LATEST NEWS HEADLINES AND BREAKING NEWS (HERE)
LATEST NEWS VIDEOS