The announcement follows President Donald Trump’s decision to impose 50% tariffs on steel imports|@WhiteHouse|X
A $15 billion steel project in Iowa is set to bring a major new manufacturing investment to the US, with President Donald Trump using the announcement to highlight the impact of his trade policies.
Minnesota-based Mesabi Metallics is planning a $15 billion investment in Iowa to build the largest steel plant in US history, the president said yesterday. The mine would start production in 2030.
The facility could create more than 1,700 jobs and initially produce 7.5 million tons of steel a year, with future expansion potentially taking output to 10 million tons.
The company will supply the Iowa mine with iron ore from its newly opened Minnesota mine.
Trump said higher tariffs on imported steel helped make the investment possible. The project comes as his administration continues to push for greater domestic steel production.
The announcement follows President Trump’s decision to impose 50% tariffs on steel imports.
Mesabi’s Minnesota mine, which cost about $2.5 billion, began preliminary production this month after years of delays.