Susan contrasts Trump’s Iowa mega mill and first U.S. iron ore mine in 50 years—tariffs, EXIM credit, mine-to-mill—with Carney’s summit: airport concessions, raw exports, and only 8 non-military factories.
This midweek update contrasts two investment stories. On Monday, President Trump announced a $15 billion Mesabi Metallics steel mill in Iowa, supplied by the first new iron ore mine in the United States in 50 years, and Commerce Secretary Howard Lutnick, Export-Import Bank Chairman John Jovanovic and Mesabi Metallics’ Rewant Ruia laid out how tariffs, government credit and a complete American supply chain made it possible: a crash course in the American System of economics. Two weeks earlier, Mark Carney’s Canada Investment Summit claimed nearly $500 billion in new investment, but the first thing on the block was long-term concessions on Canada’s four largest airports, and of its 167 projects, 63 are mining and metals while only 8 are non-military domestic manufacturing, as Stelco announces up to 500 job cuts in Hamilton. The episode then turns to Canada’s MAID program, with 16,499 assisted deaths in 2024, and to Sir Julian Huxley, UNESCO’s first director-general, who wrote in 1946 that “much that now is unthinkable may at least become thinkable.” It closes with the official U.S. poverty rate falling to 10.2%, record-low child and Hispanic poverty, and a new optimism about America’s future.
00:00 The Midweek Update – Trump Unveils $15B Steel Giant as Carney Auctions Canada for Parts
01:14 Mined, Melted and Poured in America
05:28 Carney’s Summit Sells the Airports
08:47 The Body Count
