President Trump on Monday announced plans for a new $15 billion steel plant in Iowa, which he said will be the largest steel plant in U.S. history.

“The steel will be mined, melted and made right here in the USA, which is something that’s very unusual,” he told reporters in the Oval Office.

Mesabi Metallics, a Minnesota-based company, plans to construct the plant with the goal of starting production in 2030 and eventually producing 10 million tons of steel per year.

President Trump said the project is expected to create 6,000 new construction jobs and 2,000 new manufacturing and mining jobs.

“The plant will produce some of the highest quality, most affordable steel anywhere in the world,” he said. “They’re going to be making it here and using it here and also shipping it outside.”

The president attributed the plant’s announcement to his administration’s “pro-American” policies, including its 50% tariffs on foreign steel.

“Now, our steel industry is roaring back to life,” he said. “Everyone’s building their plant here because they don’t want to pay tariffs. It’s really not that complicated.”

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