WATCH LIVE: President Trump Makes an Announcement on Plans to Build Largest Steel Plant in US History – 2 PM ET

President Trump is scheduled to make an announcement on plans for a $15 billion steel plant in Iowa during an event in the Oval Office this afternoon.

Trump had suggested that the announcement would center on AI, telling reporters that he had dinner plans at the White House with Anthropic CEO Dario Amodei. The comment came after he returned from the Presidents Cup golf tournament in Chicago late last night.

On Tuesday, Trump will also meet with Amodei and other top AI CEOs at the White House with House Speaker Mike Johnson.

(VIDEO) Trump Says He Had Late Night Dinner with Anthropic CEO Ahead of Announcement Today

However, reports suggest that Trump is set to announce that a new $15 billion steel mill, the largest in US history, will be built in eastern Iowa by Minnesota-based Mesabi Metallics.

Per Reuters:

Trump is expected to unveil ​the proposal at the White House with executives from Mesabi ​Metallics, which recently opened Minnesota’s first new iron ore mine in 50 years, a White House official said.

The project will be fully vertically integrated, with ​Mesabi using iron ore from its Minnesota mine to produce steel in Iowa. ‌The ⁠first phase will produce 7.5 million tons of steel annually, with the plant eventually expected to reach 10 million tons, which the White House described as the largest steel plant in ​US history.

The ​Minnesota mine ⁠represents a $2.5 billion investment and is expected to create about 350 jobs, while the Iowa steel ​plant is expected to create at least 1,750 ​permanent ⁠jobs, the official said. The first phase is also expected to support 5,000 to 6,000 construction jobs, the official said.

“President Trump ⁠is delivering ​on his promise to rebuild American ​industry, reshore manufacturing, and create new jobs,” White House spokeswoman Taylor Rogers said.