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
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.
“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.”