WASHINGTON, DC - SEPTEMBER 28: U.S. President Donald Trump speaks with Rewant Ruia (L), Chairman of Mesabi Metallics, and Prashant Ruia (2nd L), Board Member of Mesabi Metallics and Director of Essar Capital, while making an announcement 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. Also pictured are Energy Secretary Chris Wright (C) and Commerce Secretary Howard Lutnick (R). (Photo by Kevin Dietsch/Getty Images) *** BESTPIX ***

WASHINGTON, DC - SEPTEMBER 28: U.S. President Donald Trump listens as Secretary of Commerce Howard Lutnik 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: (L-R) Iowa Republican Senate candidate U.S. Rep. Ashley Hinson (R-IA), Rep. Mariannette Miller-Meeks (R-IA), Iowa Governor Kim Reynolds and Sen. Joni Ernst (R-IA) attend 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 Ravi Ruia, Board Member of Mesabi Metallics and Director of Essar Capital as U.S. President Donald Trump holds an event 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)

US President Donald Trump listens to Rewant Ruia (L), Chairman of Mesabi Metallics, during an announcement on steel in the Oval Office of the White House in Washington, DC, on September 28, 2026. (Photo by Kent Nishimura / AFP via Getty Images)

WASHINGTON, DC - SEPTEMBER 28: Rewant Ruia (L), Chairman of Mesabi Metallics, and Ravi Ruia (C), Board Member of Mesabi Metallics and Director of Essar Capital, 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. Rep. Ashley Hinson (R-IA), Iowa Republican Senate candidate, speaks 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. Rep. Ashley Hinson (R-IA), Iowa Republican Senate candidate, speaks 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)