US President Donald Trump makes 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: U.S. President Donald Trump answers questions from reporters during 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. (Photo by Kevin Dietsch/Getty Images)

WASHINGTON, DC - SEPTEMBER 28: U.S. President Donald Trump answers questions from reporters during 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. (Photo by Kevin Dietsch/Getty Images)

WASHINGTON, DC - SEPTEMBER 28: U.S. President Donald Trump answers questions from reporters during 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. (Photo by Kevin Dietsch/Getty Images)

WASHINGTON, DC - SEPTEMBER 28: U.S. President Donald Trump answers questions from reporters during 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. (Photo by Kevin Dietsch/Getty Images)

US Energy Secretary Chris Wright speaks as President Donald Trump makes 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)

Rewant Ruia, Chairman of Mesabi Metallics and Ravi Ruia, Board Member of Mesabi Metallics and Director of Essar Capital (R) listen as US President Donald Trump makes an announcement in the Oval Office of the White House in Washington, DC, on September 28, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)

US Energy Secretary Chtris Wright speaks as President Donald Trump makes 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)