Hyundai announces $21 billion investment in the U.S. ahead of Trump’s sweeping tariff threat

The South Korean Conglomerate Hyundai is the most recent Asian business to promise many of us investmentAs President Donald Trump threatens many new tariffs to return to US production

Hyundai announced this invest $ 21 billion in American moulals, including a $ 5.8 billion steel steel plants in Louisiana. The plant produces approximately 1,500 jobs and produce 2.7 million metric tons of steel a year, possibly for Hyundai’s existing chain chain.

The Chairman Euisun Chung said this is the “biggest investment in Hyundai since,” in a White House Press Conference including Trumper Jovernor Jeff Landry.

Hyununyi parts closed 3.3% higher in Asia trading on Tuesday.

Hyundai also opened a $ 7.6 billion car and Georgia car factory, the third of the US Korean Carmaker had a plant in Alabama, and Kia’s affiliation had one in Georgia. The new Hyunundai plant can make 300,000 cars a year Once fully operating, leads to the total annual production of production in 1 million.

Hyundai, with Kia, one in the country Top-selling carmakers And so is the top selling EV create after Tesla market leader.

Tarko threat to Trump

The New CEO of Hyundai, Jose Munoz, pointing localization as the best way for Korean carmaker to avoid new US tariffs. Trump threatens new tariffs to revise a country basis starting April 2. Which one is a large over US trade, high in the list of potential targets.

Since going to the office, Trump imposes a 25% tariff of steel products and aluminum entered into the US, and an additional 20% tariff in China.

The white house As Hyundai’s investment is “more proof that Trump’s Trump’s economic flight works”

Hyundai is the most recent Asian business to provide new US investments.

Japanese carmaker Honda in January said this investment was added to three ohio cars to expand their ability to build vehicles in EVs.

The leading creation of Chipmaker Taiwan Semiconductuctor of Taiwan Semiconductuctor of CO. Announced earlier this month invested it’s $ 100 billion Enlarge its surgery in Arizona.

Taiwan’s Foxconn, the largest manufacturer of the world contract, so IS reported Investment in excess of $ 140 million to extend Texas’s AI server capacity.

Last year, Softbank in Japan announced a collaboration with Openi and Oracle who finally invested $ 500 billion to move AI-based infrastructure.

This story originally shown Fortune.com

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