Trump announces construction of country's largest steel plant to reduce reliance on imports

President Donald Trump announced on Monday the construction of the country's largest steel plant, specifically in Iowa, with the goal of increasing domestic steel production and reducing dependence on imports.

During a press conference at the White House, where he was accompanied by Secretary of Commerce Howard Lutnick, Trump announced that the company Mesabi Metallics will be responsible for building the plant, investing approximately $15 billion.

"There's a company known as Mesabi (...) that's going to make a big investment in a place called Iowa. I love Iowa. I won Iowa every time. Today, we're thrilled to announce that Mesabi Metallics will be building the largest steel plant in American history in the great state of Iowa," said the president.

In addition to Lutnick, Trump was joined by several company executives, the president of the Export-Import Bank, John Jovanovic, and other members of the Republican Party.

While specific details are still unknown, it is estimated that the construction of the plant will create between 5,000 and 6,000 jobs, while, once construction is complete and the factory is up and running, approximately 1,750 people will be permanently employed, according to a report by Fox News.

Trump's main goal in building the country's largest steel plant is to reduce dependence on exports and attempt to replace China as the world's largest steel producer.