President Donald Trump on Monday will announce a steel-making company's plan to invest about $15 billion to build what would be the largest plant of its kind in U.S. history, a White House official confirmed to CNBC. The Oval Office announcement with Mesabi Metallics, set for 2 p.m. ET, comes just weeks before the November midterm election , which are poised to be shaped by Americans' increasingly sour views of Trump's handling of the economy. The steel plant is planned to be built in in Iowa and aims to begin production in 2030, said the official, who spoke on condition of anonymity ahead of the White House event. The Wall Street Journal first reported the scheduled announcement earlier Monday morning.
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