Trump announces Hyundai’s investment of $ 21 billion in the United States

The Korean group’s expenses will include nearly $ 6 billion for a new steel plant in Louisiana

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President Trump’s new prices on imported goods have aroused confusion and concerns among certain foreign companies, but Hyundai avoids the problem with a proactive investment of $ 21 billion in operations based in the United States.

The Korean company’s plan to spend billions of dollars in America was announced today in the White House. The steel apartment of $ 5.8 billion is included in Louisiana which could provide around 1,500 jobs, Bloomberg Sources have estimated that the entire investment project would create more than 14,000 jobs.

Related: the new pattern of Hyundai increases Trump’s shoulders, sticks to EV Future

New generation steel from the factory will be used to build electric cars in Hyundai factories in the United States. The car manufacturer has already produced cars in Alabama and the Sister Kia company had one in Georgia, but in 2024, Hyundai opened another “metaplant” georgia installation which is currently building the Ioniq 5s Lifted.

Over the total investment of $ 21 billion, around $ 9 billion is intended to increase vehicle production, with the aim of hitting 1.2 million units per year, says Bloomberg. In addition to the Ioniq 5, the new factory will build five other electric vehicles from the Hyundai, Kia and Genesis brands, and last May, the company confirmed that it would also produce hybrids.

Prices push car manufacturers in the United States

Korean companies, such as some of their counterparts in many other countries, rush to move operations in the United States to avoid import prices announced by President Trump and which should come into force on April 2 to protect the American industries.

Speaking today at the White House, Trump stressed Hyundai’s decision as a sign that politics works as expected.

“Hyundai build a brand new steel plant in Louisiana which will produce more than 2.7 million metric tonnes of steel per year, creating more than 1,400 jobs for American steel workers. There will be a major expansion after that,” said the president. “It will be the very first Steel in Hyundai in the United States, one of the largest companies in the world, by the way, providing steel for its car and car factories in Alabama and Georgia, which will soon produce more than a million American manufacturing cars each year.”

More: while Canada is fighting against Trump’s automotive prices, Mexico chooses diplomacy rather than confrontation

Trump did not hesitate to link Hyundai’s decision to the pricing strategy of his administration. “This investment is a clear demonstration that prices work very strongly,” he said. “And I also hope for other things, but the prices bring them to levels that have not been observed.”

A broader change in commercial dynamics

Steel and aluminum have a service of 25% and this does not apply to raw metals, but hundreds of products from them. And South Korea is on Trump’s naughty list, the president accusing him of having snatched the United States thanks to his own import samples.

This large investment plan is not the only one in Hyundai which involves working with America and its companies. The Korean car manufacturer and GM explore a range of colaabs that could give Hyundai a version of the Chevy Colorado and GM pick-up a pair of electric van designed by Hyundai.