Trump Admin Notches Another Major Economic Victory

​Hyundai Motor Group is set to announce a substantial $20 billion investment in the United States, reinforcing its commitment to expanding manufacturing capabilities and aligning with the U.S. administration’s emphasis on domestic production. The initiative includes the construction of a $5 billion steel plant in Louisiana, aimed at supplying materials for Hyundai’s automotive factories in Alabama and Georgia.

The announcement is anticipated to be made at the White House, with President Donald Trump, Hyundai Chairman Euisun Chung, and Louisiana Governor Jeff Landry in attendance. The planned steel plant near Donaldsonville, Louisiana, represents Hyundai’s first overseas steel facility and is expected to create approximately 5,500 direct and indirect jobs, per CNBC.

The move is designed to mitigate the impact of impending 25% tariffs on foreign-made steel and aluminum, which President Trump has announced will take effect on April 2. By localizing steel production, Hyundai aims to navigate these tariffs effectively and support its U.S. manufacturing operations.

Hyundai’s investment aligns with a growing trend of foreign companies increasing their U.S. presence in response to trade policies favoring domestic production. Companies like Taiwan Semiconductor Manufacturing Co. and SoftBank have also announced significant investments in the U.S., showing a global shift towards on-shoring manufacturing operations. ​

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“More investments, more jobs, and more money in the pockets of hardworking Americans – all thanks to President Trump’s economic policies,” White House Press Secretary Karoline Leavitt wrote on Monday. “President Trump is Making America Wealthy Again.”

The initiative builds upon Hyundai’s ongoing commitment to the U.S. market. The company recently opened the Hyundai Motor Group Metaplant America (HMGMA) in Georgia, a $7.59 billion facility projected to create 8,500 new jobs.

The Metaplant employs advanced AI and data-driven systems to optimize production and enhance safety, demonstrating Hyundai’s dedication to innovation and workforce development in the U.S., according to Axios.

Saint Petersburg, Russia, 23 Jule 2024: Facade of Hyundai car store. The frontage of the Hyundai Car Showroom. The Hyundai Motor Company is a South Korean automotive manufacturer. Korean cars.

Hyundai’s investments are not only bolstering its manufacturing footprint but also fostering community development. In regions like Savannah, Georgia, the influx of Korean investment has led to the emergence of vibrant “Koreatowns,” characterized by new businesses, cultural institutions, and community services that enrich the local fabric. ​

Under the leadership of Global COO José Muñoz, Hyundai is making significant strides in the electric vehicle (EV) sector. The company plans to offer 21 different EV models and aims to sell 2 million units annually by 2030.

​Since inauguration day, President Trump’s administration has implemented a series of tariffs affecting major U.S. trading partners, including Canada, Mexico, China, and the European Union. President Trump imposed a 25% tariff on imports from Canada and Mexico, citing concerns over illegal immigration and drug trafficking.

In February 2025, President Trump announced plans to impose a 25% tariff on goods imported from the European Union, affecting hundreds of billions of dollars in trade. The administration has also targeted Chinese imports with a 10% tariff.

Hyundai has reinforced its commitment to electrification and sustainable mobility with the recent opening of a $7.6 billion plant in Georgia dedicated to producing electric and hybrid vehicles. The facility is part of the automaker’s $20 billion investment in the United States, an effort to expand its presence, address trade challenges, and support economic growth through job creation and technological innovation.