WASHINGTON — President Trump will announce a $54 billion overseas investment in the battleground state of Alaska later Wednesday, part of a slew of manufacturing and jobs plans the White House is unveiling ahead of the Nov. 3 midterm election.
The money from South Korea will build a liquified natural gas facility as part of $350 billion in US investments pledged by Seoul as part of a trade deal agreed in July 2025.
Sen. Dan Sullivan (R-Alaska), who is facing a tough re-election campaign, is expected to join Trump and Commerce Secretary Howard Lutnick in the Oval Office for the announcement.
Wednesday’s announcement will come one day after the president confirmed plans for Minnesota-based Mesabi Metallics to construct the largest steel plant in American history in eastern Iowa.
On Thursday, Trump will visit a Peterbilt Motors factory in Denton, Texas to tout his administration’s job creation record.
The president also said Tuesday that he plans to make a 32-day campaign swing to boost Republican candidates as his party fights to keep control of Congress, with an Alaska visit one of the possibilities under consideration.
The LNG export terminal is meant to anchor an 807-mile pipeline to the resource-rich North Slope of the Last Frontier, the largest proposed energy infrastructure project in US history. Sullivan is a longtime supporter of the project.
Trump has said repeatedly he wants America to have absolute “energy dominance” and has prioritized opening federal lands and offshore waters for oil, natural gas, and coal development.
“President Trump will announce major energy infrastructure investments that deliver on his day one promises to unleash American energy, unlock Alaska’s extraordinary resource potential, and accelerate America’s nuclear energy renaissance,” White House spokesman Taylor Rogers said in a statement.
“Unlike the Democrats’ energy subtraction policies, this President’s energy dominance agenda continues to cement the United States as the energy capital of the world.”
Interior Secretary Doug Burgum and Jarrod Agen, executive director of Trump’s National Energy Dominance Council, are also expected to attend the announcement, along with GOP Rep. Nick Begich and Gov. Mike Dunleavy.
