Trump announces proposed $15B Iowa steel plan

A roughly $15 billion steel mill proposed for Iowa was unveiled by President Donald Trump in the Oval Office on Monday, with the White House describing it as the biggest ever built in the country. The developer is Mesabi Metallics. Trump credited tariffs for the momentum, saying manufacturers are putting factories in the United States to avoid paying them, and called it "not that complicated.", according to NewsNation · NBC News.

According to the company, the facility would ultimately turn out 10 million tons of steel a year, with an initial phase making 7.5 million tons. Building comes first, and steel is projected to start flowing in 2030. Mesabi Metallics says the plant would provide at least 1,750 permanent positions in Iowa, plus 5,000 to 6,000 construction jobs in phase one. Paired with its Minnesota iron ore mine, the first phase represents nearly $18 billion in investment, and the company projects $95 billion in total economic impact across construction and the first 10 years of operation.

The mine, on Minnesota's Mesabi Iron Range, is coming online and is expected to yield 7.5 million tons of ore annually; the company calls it the first new mine on the range in 50 years. Together the sites would let the company make steel entirely from domestic ore. The announcement comes as Iowa prepares for a competitive Senate contest and races in each of its four House districts, with the general election set for Nov. 3.

Summarized by PolitiKool from NewsNation · NBC News’s reporting. Read the full story at NewsNation · NBC News →