Hyundai Boosts U.S. Investment to $21 Billion

Hyundai Motor Group will invest $21 billion in the United States, including a $5.8 billion steel plant in Louisiana, creating approximately 1,300-1,400 jobs. This investment is part of Hyundai's strategy to localize production in response to U.S. tariffs, which President Donald Trump claims are effective in attracting foreign investments. The steel plant will supply Hyundai's U.S. automotive plants and is expected to produce over 2.7 million metric tons of steel annually. Hyundai's investment plan also includes expanding vehicle production and adopting advanced AI technology in its U.S. operations. Trump's tariffs on steel, aluminum, and other goods are part of broader trade policies aimed at reducing trade deficits and encouraging domestic manufacturing.