Washington – President Trump announced Monday that the company Mesabi Metallics will build a $15 billion steel plant in Iowa in the coming years, in what would be the largest of its kind in US history. “There is a company known as Mesabi,” the president said in the Oval Office. “And they are going to make a big investment in a place called Iowa. I love Iowa. I won Iowa every time. Today, we are thrilled to announce that Mesabi Metallics will build the largest steel plant in American history in the great state of Iowa.” The president and Minnesota-based Mesabi Metallics unveiled the company’s plans for what the White House calls a mega steel plant, along with Mesabi executives and Iowa Republican representatives facing tough elections in November. Once operational in 2030, the plant is expected to produce 7.5 million or more tons of steel per year. A White House official said the plant is expected to create 1,750 permanent jobs in Iowa. President Trump in the Oval Office of the White House in Washington, DC, on September 28, 2026. Kent Nishimura/AFP via Getty Images Commerce Secretary Howard Lutnick and Export-Import Bank Chairman John Jovanovic joined Mesabi executives and Republican members of Congress in the Oval Office for the advertisement. Plans for the new plant are the latest move by the Trump administration to boost domestic steel manufacturing in the face of foreign competition, a centerpiece of the president’s trade agenda. Last year, it doubled tariffs on imported steel to 50%, and steel taxes have been part of the ongoing trade dispute between the United States and Canada. Mesabi has not announced where in Iowa the steel plant will be, but Energy Secretary Chris Wright mentioned it would be in the southeastern part of the state. A White House official said this will be the first mega steel plant built in the United States since the 1960s. The Trump administration hopes the steel can support American defense projects in the future. Iron ore for the plant (iron ore is a primary raw material for making steel) will come from Mesabi Metallics’ new $2.5 billion iron ore mine in Minnesota. The Wall Street Journal was the first to report the president’s early announcement about the new steel plant. “President Trump is delivering on his promise to rebuild American industry, relocate manufacturing and create new jobs,” said White House spokeswoman Taylor Rogers. “Today’s announcement underscores the president’s historic efforts to revitalize America’s steel industry, supporting local communities, strengthening supply chains and protecting our national security. After decades of decline, this president is restoring America’s industrial competitiveness and securing trillions of dollars in new investment.” Republicans, who now hold the governor’s mansion and both Senate seats, are trying to prevent Democrats from changing that. In Iowa, the Des Moines Register reported that state lawmakers are being alerted that they may have to return to the statehouse to approve tax breaks for Mesabi. CBS News has reached out to top members of the Iowa House of Representatives for comment. Gabrielle Ake and Lana Zak contributed to this report. More from CBS News Go deeper with The Free Press
