Donald Trump used a previously unexplained Oval Office appearance on Monday to announce what the White House described as the biggest steel plant ever built in the United States.
“When it comes to national security, I would say steel is number one on your list,” Trump said. “If we don’t produce it ourselves, we really can’t defend ourselves.”
The president promoted a planned $15 billion investment from overseas backer Mesabi Metallics, saying the company would rely on “outside money” from some of the world’s most respected financial sources to build a major facility in Iowa.
Trump also portrayed the project as protected from future changes in Washington, insisting that strong guarantees would ensure it moves forward “100 percent” regardless of who becomes president. He said construction would generate 6,000 jobs and bring new economic energy to a region he described as having been “left behind for a lot of wrong reasons.”
Mesabi has said the Iowa complex is not expected to produce its first steel until 2030.
The announcement comes as Iowa’s Senate contest, pitting Republican Representative Ashley Hinson against Democratic candidate Josh Turek, is emerging as one of the most competitive races in the country.
During Monday’s Oval Office event, Trump voiced his support for Hinson, who is running to succeed retiring Republican Senator Joni Ernst.
“I saw some good polls just recently,” Trump said, hinting at Hinson’s campaign before pledging to travel to Iowa for a major rally ahead of the election.
A Marist poll published last week showed Hinson trailing Turek by eight percentage points.
Trump praised Ashley Hinson, who is seeking to succeed outgoing Republican Senator Joni Ernst, during Monday’s Oval Office announcement.
Hinson, center, faces a closely fought Senate race against Democratic contender Josh Turek.
Donald Trump boards Air Force One at Chicago O’Hare International Airport on Sunday.
“President Trump is delivering on his promise to rebuild American industry, bring manufacturing back home and create new jobs,” White House spokeswoman Taylor Rogers said.
“Today’s announcement highlights the President’s historic work to revive the American steel industry, support communities, strengthen supply chains and safeguard national security.
“After decades of decline, this President is restoring America’s industrial strength and attracting trillions of dollars in new investment.”
Commerce Secretary Howard Lutnick and Export-Import Bank Chairman John Jovanovic were expected to join Trump at the event, along with Mesabi Chairman Rewant Ruia and Chief Executive Joe Broking.
Mesabi operates under India’s Essar Group, which began work at a Minnesota site in 2008. Essar Steel later filed for bankruptcy in 2016.
Trump celebrates with members of the USA team and their families following the Presidents Cup at Medinah Country Club in Illinois on Sunday.
Trump and aide Natalie Harp return to Washington on Sunday night.
The steel announcement followed hours of speculation that Trump might unveil action to address record diesel prices, which have climbed to $6.52 a gallon as the war involving Iran puts additional pressure on global energy markets.
Trump said on Sunday he was looking ‘very seriously’ at a diesel export ban ahead of the midterms. ‘We may do it,’ he told Fox News.
Energy Secretary Chris Wright has floated restrictions rather than an outright ban, while the administration was preparing a 90-day ban, Politico reported last week.
Others bet on AI after Trump was scheduled to dine privately with Anthropic CEO Dario Amodei on Sunday night.
Trump is also due to host House Speaker Mike Johnson and tech CEOs for a meeting on artificial intelligence on Tuesday, a source told Reuters.