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Why is Essar investing $18 billion in a US steel plant? Trump tariffs hold the answer

Tuesday, September 29, 2026 - 19:48
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Why is Essar investing $18 billion in a US steel plant? Trump tariffs hold the answer
India's Essar Group, through US subsidiary Mesabi Metallics, plans to invest $18 billion in an integrated US steel operation spanning an iron-ore mine in Minnesota and a steel plant in Iowa. President Donald Trump has credited his 50% steel tariffs for the investment.

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