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US President Donald Trump on Monday said that a Minnesota company plans to build a multibillion-dollar steel mill in Iowa, handing the administration a marquee manufacturing investment to showcase as Republicans head into November’s midterm elections.
Trump unveiled the project at the White House with executives from Mesabi Metallics, which recently opened Minnesota’s first new iron ore mine in 50 years. A White House official said the plant investment would amount to US$15 billion.
The announcement comes as Trump seeks to bolster his economic record ahead of November’s election, with his approval rating plumbing all-time lows of late as the Republican Party confronts voter concerns about inflation and the cost of living.
Trump has made tariffs and a revival of US manufacturing central to his economic agenda, arguing that higher barriers to imports will drive investment and jobs back to the United States.
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