Trump reveals $15B plan for giant steel plant
U.S. President Donald Trump announced a roughly $15 billion investment plan to build the largest steel plant in U.S. history, to be established in Iowa by Mesabi Metallics Corporation. The project is expected to commence production by 2030, with an initial capacity of 7.5 million tons per year and the creation of around 6,000 jobs in the initial phase. The capacity is planned to increase to 10 million tons, with 1,750 permanent jobs expected later on. The plant will rely on iron ore from a nearby mine in Minnesota, which is finally starting production after years of delays. This project reflects Trump's protectionist policies by imposing high tariffs on steel imports, aimed at boosting the domestic industry and creating employment opportunities, despite criticisms noting that it may lead to higher steel prices within the U.S. market.
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