Trump credits his 50% steel tariffs for a planned $15bn Iowa steel mill, backed by up to $10bn in federal Export-Import Bank financing. Proof the tariffs are working?

What happened

On 28 September President Trump announced plans for a $15 billion steel mill in Lee County, southeast Iowa, which he says will be the largest in the US. It is being developed by Mesabi Metallics, a Minnesota-based company owned by India's Essar Group, and will use iron ore from the company's new $2.5 billion mine on Minnesota's Iron Range. The plant is due to produce 10 million tons of steel a year from 2030, with about 1,750 permanent jobs in Iowa. The Export-Import Bank will provide up to $10 billion in financing. Trump credited his 50% tariffs on foreign steel.

Why people disagree

Supporters say the 50% tariff makes building in the US worthwhile, and that a fully domestic supply chain, from mine to finished steel, strengthens national security and brings well-paid industrial jobs. Sceptics note that production isn't due until 2030, that up to $10 billion of federal financing puts public money behind a private project, and that the announcement came at a campaign-style event weeks before the midterms. Iowa Democrats have questioned the project's transparency and haste.

What's still unclear

Whether Iowa will add tax breaks is undecided, with state lawmakers possibly called back to consider them. It's also unclear how far the investment depends on tariffs staying at 50%, and whether the plant will be built on schedule.