South Korea’s Hyundai will announce $ 20 billion in investment

South Korean Konglomerater Hyundai will announce a $ 20 billion investment in the construction of a $ 5 billion steel plant in people who are familiar in the United States.

The plant is hired for about 1,500 employees and the next generation will produce the next generation of steel producing two US car plants in Hyundai. The investment is expected to be announced on Monday in the White House by the President Donald TrumpHyundai President Euisun Chung and Louisiana Gov. Jeff Landry.

Hyundai’s announcement The main international conglomerates, the tariffs miss the Dodge tariffs and Trump’s 2 April tariff comes from a trade war on the last date. Taiwanese Country Manufacturer Production Co. And Japan’s SoftBank is among the great foreign players who visited the White House in the last two months.

Hyundai Motor CEO José Muñoz AxIos recently The best way to Hyundai is to increase localization to walk the tariffs. “

The South Korean company is the best seller of electric vehicles in the United States directly competing Tesla. There are already two large car plants in the United States and Alabama and the other in Georgia. Hyundai is expected to announce the opening of a third car plant in Georgia on Monday.

South Korea is also among the countries where the United States is trading. Trump at the beginning of March doomsday South Korea said that for the introduction of high tariffs for US exports, Asian ally tariffs are four times higher than the United States.

He argued Seoul’s imbalance. Since 2024, South Korea’s effective tariff rate on US imports was 0.79%, according to the South Korean government, was at 0.79% due to the free trade agreement.

In response to the planned investment announcement, the White House sent an article on the X. of Social Media Site of the White House.

Hyundai refused to comment.