President Trump’s steel tariffs are supposed to spur a steel industry renaissance in the United States. He has bragged about the nation’s biggest-ever steel plant that will be built in Iowa but it doesn’t appear his tariffs have meant anything to a 120-year old steel company a day’s drive away in Wisconsin. Or the 25-year old steel plant across the river from St. Louis.
Earlier this year, Alton Steel announced it was closing, the company has announcing it’s going to sell its 381-acre plant site to a developer—–
—that is going to build a 200-megawatt data center there. And that’s just a start. TerraWatt is talking about building five data centers there that will add up to a one-gigawatt operations.
One might think such a project would generate a ton of jobs. Nope. TerraWatt says fifty people could produce only FIFTY fulltime jobs.
Then there’s Trump’s big plans for Iowa and no plans for Wisconsin. We’re not sure the creating of the big steel plant makes up for the problems Iowa farmers who voted for him two years ago are facing thanks to his various ill-considered policies.
Is he just spreading more bovine by product around to keep his Republican congressional majority? For somebody who has no concept of agriculture, he is one of the world’s great byproduct spreaders. Maybe THE best.
Will the new steel plant provide jobs for workers who will get his $5,000 checks for voting for the GOP tomorrow.?
While he was Trumpeting great things for Iowa, reporters were telling about some folks in neighboring Wisconsin who were hearing Taps for their jobs in the steel industry.
The Milwaukee Journal Sentinel says Maynard Steel is shutting down after twelve decades in Milwaukee. Sales dropped by about one-third last year and the company is losing more money this year. At one time it had 725 workers. The newspaper says the 77 remaining employees will lose their jobs and their health care benefits on December 4. A court-appointed receiver will sell the company’s assets after that. The company cites “business and industry circumstances” as reasons for he closure.
Maybe Trump needs to go to Milwaukee where he can perform the same miracle he performed in Indianapolis ten years ago when he saved all those jobs at the Carrier Air Conditioning plant. Except he didn’t. The deal actually saved only about one-third of the jobs. Not mentioned in the Trump/Pence bragging about the deal was the Carrier went on to close a Carrier plant in another Indiana City, costing 700 more workers their jobs.
A little more than a year later, Carrier reported it was moving more than 600 other jobs to a new factory in China. In the end, Carrier moved more jobs out of Indiana than it kept.
Maybe the workers in Milwaukee can find jobs at the planned $15 billion big beautiful steel plant Trump has proclaimed will be built in Iowa, “the largest steel plant ever built in the United States,” proclaimed our President. His Commerce Secretary, Howard Lutnick said there was no doubt the plant would be built.
But it won’t be built by an American company.
There also is doubt, at least for now, about when the plant will be built. Trump said the plant already was under construction. Iowa TV station KWQC did some digging after thae announcement and found no significant property transactions this year in Lee County, where President Trump says it will be. No permit applications had been submitted. No detailed plans had been sent to county authorities. Definitely no plant is being built right now, Trump notwithstanding. Some property owners, however, say a real estate agent has been snooping around.
Maynard Steel employees will have to go a long time without paychecks and health insurance if they think they can move to Iowa and get steel industry jobs.
Some skeptics think the announcement was a campaign stunt. Critics think the original plans were for the plant to be built in Minnesota where Mesabi Minerals is developing a big mine and mill operation in the Mesabi Iron Range up north. The project has been delayed, the company complaining the delay is because of 2017 dispute involving a rival who cites “anti-competitive conduct” and charges Mesabi with antitrust violations.
The Des Moines Register has reported Mesabi and its parent company, Essar Group, have a troubled financial history (www.usatoday.com/story/news/politics/2026/10/01/mesabi-metallics-company-iowa-steel-plant-trump/92036812007/) in this country and in Canada.
Reporter Tyler Jeff has written, “In India, Business Today reported a few years ago that the Essar Group was one of the country’s most indebted companies and “notorious” for defaults dating back to 1999, when Essar Steel failed to pay $250 million to international creditors. In addition to the bankruptcies at the company’s U.S. and Canadian subsidiaries, the Essar Group restructured debt in Canada three times.”
He says the company has sold billions of dollars in assets and now has a big loan from a Russian state-owned financial institution behind its plans to mine taconite in northwest Minnesota and then transport it about 500 miles to Iowa’s southernmost county (Keokuk and Fort Madison area) for processing.
Once more, Trump seems to be doing something nice for somebody in Russia.
Trump’s announcement caused great excitement in Iowa, naturally. It came at such a convenient time, too. One of Iowa’s seats in the U. S. Senate is very much in play this year with a Democratic challenger threatening to flip the seat now occupied by Joni Ernst, who is not seeking a third term. The most recent poll shows Democrat Josh Turek, a state representative, and Congresswoman Ashley Hinson are close in a state Trump carried by 13 points two years ago. The Suffolk University poll says one-fourth of the voters Hinson has lost say her support of Trump is the reason.
So is Trump’s grand announcement just an effort to hold on to the traditionally red state of Iowa? Or is it the real thing? A Russian-financed Indian company with a rugged background is going to put $15 billion dollars into a steel plant about 500 miles from the place where the ore is mined.
The steel industry is changing but Trump’s campaign promise to return the industry to the United States certainly have an odd twist to it.
A Russian-financed company from India and the acquisition of U. S. Steel by Nippon Steel of Japan seem to be an odd way to go about Making America Great Again in terms of the steel industry.
Will this deal turn out to be what Trump says it will be? Or is it just another Carrier case?
He seems to be big on India and Japanese ownerships in the steel industry and doing favors for Russians. But for a 120-year old company in Milwaukee? Where is he for those folks?
Maybe they don’t count because Minnesota is a blue state. And soon to be out of work steel company workers in Wisconsin and already out of work and already-unemployed steel workers in the St. Louis aren’t worth any attention when he’s desperately trying to keep Congress red.
-0-













