An article summarized by NBC News:
President Trump announced a planned $15 billion steel mill in Iowa, which Mesabi Metallics aims to have producing steel by 2030. The facility is expected to produce 10 million tons of steel annually and create up to 1,750 permanent jobs, with the ability to supply high-grade steel for the defense industry.
The project will be supplied with iron ore from a new $2.5 billion mine in Minnesota’s Mesabi Iron Range, which is expected to begin production soon. The mine is projected to produce about 7.5 million tons of iron annually and create roughly 350 jobs. The Export-Import Bank also plans to provide up to $10 billion in financing for the mine's expansion.
The announcement comes as Trump continues pushing policies designed to expand U.S. manufacturing, including 50% tariffs on most imported steel. Trump argued that the tariffs are encouraging companies to build steel facilities domestically, while steel industry groups have urged him to maintain the tariffs, saying they support domestic investment and American jobs.
