Trump announced the new plant at an Oval Office event alongside steel executives and Iowa Republicans, including two running for office. The event highlighted Iowa's elevated status for Republicans and for Trump, who on Monday pledged to campaign there in coming weeks.
“We're going to do a great rally. We'll all be there together,” Trump said alongside Rep. Ashley Hinson, who is running for the U.S. Senate, and Rep. Mariannette Miller-Meeks, who is up for re-election. Also joining him were Gov. Kim Reynolds and Sen. Joni Ernst, who are not seeking new terms in office.
The new steel plant is being built by Mesabi Metallics, a Minnesota company owned by India’s Essar Group, an industrial conglomerate. Trump said the project will become the largest steel plant in the United States. It is expected to produce 10 million tons of steel a year after it's fully built out.
The plant was projected to begin production in 2030, supplied by a new $2.5 billion iron ore mine that Mesabi developed along Minnesota's Mesabi iron range. The resulting steel will be produced from start to finish in the United States, the White House said.
Trump said the American steel industry is “roaring back to life,” crediting it to the 50% tariffs on steel imports that he imposed last year.
“Everyone is building their plants here because they don’t want to pay tariffs,” Trump said. “It’s really not that complicated.”
