WASHINGTON, DC - SEPTEMBER 28: (L-R) Rewant Ruia, Chairman of Mesabi Metallics, Ravi Ruia, Board Member of Mesabi Metallics and Director of Essar Capital, and U.S. Secretary of Energy Chris Wright listen as U.S. President Donald Trump delivers remarks in the Oval Office at the White House on September 28, 2026 in Washington, DC. Trump announced plans that a new $15 billion steel plant will be built in eastern Iowa by Mesabi Metallics and is projected to be one of the largest in the United States. (Photo by Kevin Dietsch/Getty Images)

WASHINGTON, DC - SEPTEMBER 28: U.S. Secretary of Commerce Howard Lutnik speaks behind President Donald Trump in the Oval Office at the White House on September 28, 2026 in Washington, DC. Trump announced plans that a new $15 billion steel plant will be built in eastern Iowa by Mesabi Metallics and is projected to be one of the largest in the United States. (Photo by Kevin Dietsch/Getty Images)

WASHINGTON, DC - SEPTEMBER 28: U.S.Rep. Mariannette Miller-Meeks (R-IA) (C) turns to look at Iowa Republican Senate candidate U.S. Rep. Ashley Hinson (R-IA) and Iowa Governor Kim Reynolds during an announcement made by U.S. President Donald Trump in the Oval Office at the White House on September 28, 2026 in Washington, DC. Trump announced plans that a new $15 billion steel plant will be built in eastern Iowa by Mesabi Metallics and is projected to be one of the largest in the United States. (Photo by Kevin Dietsch/Getty Images)

WASHINGTON, DC - SEPTEMBER 28: U.S. Secretary of Commerce Howard Lutnik attends an announcement made by U.S. President Donald Trump in the Oval Office at the White House on September 28, 2026 in Washington, DC. Trump announced plans that a new $15 billion steel plant will be built in eastern Iowa by Mesabi Metallics and is projected to be one of the largest in the United States. (Photo by Kevin Dietsch/Getty Images)

WASHINGTON, DC - SEPTEMBER 28: U.S. Secretary of Energy Chris Wright attends an announcement made by U.S. President Donald Trump in the Oval Office at the White House on September 28, 2026 in Washington, DC. Trump announced plans that a new $15 billion steel plant will be built in eastern Iowa by Mesabi Metallics and is projected to be one of the largest in the United States. (Photo by Kevin Dietsch/Getty Images)

WASHINGTON, DC - SEPTEMBER 28: U.S. Rep. Mariannette Miller-Meeks (R-IA) attends an announcement made by U.S. President Donald Trump in the Oval Office at the White House on September 28, 2026 in Washington, DC. Trump announced plans that a new $15 billion steel plant will be built in eastern Iowa by Mesabi Metallics and is projected to be one of the largest in the United States. (Photo by Kevin Dietsch/Getty Images)

WASHINGTON, DC - SEPTEMBER 28: Rewant Ruia (L), Chairman of Mesabi Metallics, speaks alongside (L-R) Ravi Ruia, Board Member of Mesabi Metallics and Director of Essar Capital, U.S. Secretary of Energy Chris Wright, President Donald Trump and Commerce Secretary Howard Lutnik in the Oval Office at the White House on September 28, 2026 in Washington, DC. Trump announced plans that a new $15 billion steel plant will be built in eastern Iowa by Mesabi Metallics and is projected to be one of the largest in the United States. (Photo by Kevin Dietsch/Getty Images)

WASHINGTON, DC - SEPTEMBER 28: U.S. President Donald Trump listens to a reporters question in the Oval Office at the White House on September 28, 2026 in Washington, DC. Trump announced plans that a new $15 billion steel plant will be built in eastern Iowa by Mesabi Metallics and is projected to be one of the largest in the United States. (Photo by Kevin Dietsch/Getty Images)