“Soon after my inauguration, I imposed powerful 50% tariffs on all foreign steel, and now our steel industry is roaring back to life. … Everyone is building their plants here because they don't want to pay tariffs.
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Five Weeks Before the Midterms, Trump Announces a $15 Billion Steel Mill in Iowa and Credits His "Powerful 50% Tariffs" — Joni Ernst Calls It "One of the Greatest American Muscle Flexes," Pete Stauber Calls It "a Missed Opportunity for Northern Minnesota," and Democrat Rob Sand Asks What "Protections for Iowa Taxpayers" Will Be in the Deal
September 28, 2026
On Monday, Sept. 28, 2026, President Trump announced from the Oval Office that Mesabi Metallics, a Minnesota-based company owned by India's Essar Group, will build a $15 billion steel mill in Lee County in southeast Iowa. The White House called it the largest steel plant in U.S. history: roughly 10 million tons a year once it is fully running, which the company expects by 2030, plus 1,750 permanent jobs averaging $49 an hour and about 6,000 construction jobs. The mill will use iron ore from Mesabi's new mine near Nashwauk, Minn., which opened this month as the state's first new iron ore mine in about 50 years. Trump credited his 50% tariffs on foreign steel. Commerce Secretary Howard Lutnick said of the project's incentive package, "I think this deal is done." Iowa's Republican governor, both of its senators and its four House members praised the plant. Several of them are on the ballot in November, including Rep. Ashley Hinson, the GOP nominee for Senate. Rep. Pete Stauber (R-Minn.) welcomed the mine but blamed Minnesota's Democratic state leadership for losing the mill to Iowa. Iowa Democrats, among them gubernatorial nominee Rob Sand, called the plant promising but said they wanted details on taxpayer protections and guarantees for workers.
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“The announcement this afternoon regarding a potential steel plant in southeast Iowa is compelling. I would love to see the creation of good-paying jobs for hardworking Iowans.
“I think this deal is done. They've already worked it out. That's why we're all together with the president. [Lutnick, on whether the state and local incentive package for the plant had been finalized.]
“This is one of the greatest American muscle flexes that you are going to see in a long time. We are looking for ways for America to refine, to mine, to grow and to manufacture and all of that is happening right there in southeast Iowa.
“Iowa does a lot of things really, really well. We feed and fuel the world, and now we're going to continue to be a part of the American manufacturing story. … With 1,700 jobs, I just think about the countless opportunities for Iowa families and what this means for them. It is a game changer for our state and, frankly, for the country.
“Southeast Iowa, my district, has long had jobs leave, go overseas. It's heartbreaking when you're in those communities day after day. … The largest steel plant in America is coming to Lee County with more than 1,700 permanent, good-paying jobs.
“This historic investment is a major win for Iowa workers and further cements Iowa's role in the future of American manufacturing. … Iowa has the workforce, work ethic, resources, and business climate to compete with anyone, and we are proud to welcome this project to our state. The administration's pro-American manufacturing policies are incentivizing companies to invest, build, and create jobs in the U.S. [Joint statement of Reps. Nunn, Hinson, Miller-Meeks and Randy Feenstra and Sens. Chuck Grassley and Joni Ernst.]
“Building this facility in Iowa is a missed opportunity for Northern Minnesota. … Yet, their state leaders failed them. While Iowa's leaders have fostered a pro-growth environment that attracts investment and jobs, the Walz-Flanagan Administration has done the opposite. … Minnesota cannot afford more of the same. We need state leaders who make Minnesota a place that welcomes investment and the jobs that come with it. [Stauber welcomed the opening of the Mesabi mine in his district.]
“This is a transformational opportunity for our country, our state, and American families — one that strengthens national security, creates thousands of high-paying jobs, and provides a reliable supply of high-quality, American-made steel. … Really, what this does is it changes the economic trajectory for this region. It's one of the most depressed regions of Iowa.
“This is a promising idea for Lee County and for our state given that our economy is among the worst in the nation. I look forward to hearing more details, particularly on what protections for Iowa taxpayers will be built into the deal, and what guarantees will exist for Iowa workers [if Iowa taxpayers are asked to chip in].