Hyundai's $20 Billion U.S. Investment amidst Tariff Tensions

Hyundai Motor Group is set to announce a $20 billion investment in the U.S., including a $5 billion steel plant in Louisiana. This announcement coincides with President Trump's tariff threats. Hyundai plans to hold an opening ceremony for a new Georgia car factory later this month.

Hyundai Motor Group is preparing to unveil a substantial $20 billion investment in the United States, according to a U.S. official. The announcement, expected at the White House on Monday, includes plans for a $5 billion steel plant in Louisiana. The official unveiling is anticipated to take place in the presence of President Donald Trump, Hyundai Chairman Euisun Chung, and Louisiana Governor Jeff Landry.

The timing of this announcement is critical, as it coincides with President Trump's ongoing threats to impose reciprocal tariffs, affecting countries like South Korea with significant trade surpluses with the U.S. The tariffs could potentially impact Hyundai's investments, particularly the proposed steel plant.

While spokespeople for Hyundai Steel, Hyundai Motor, the White House, and the Louisiana governor's office couldn't be reached for comments, sources suggest Hyundai is still weighing its options. The automaker plans to hold an opening ceremony for a new car factory in Georgia later this month, adding to its existing manufacturing presence in Alabama and Georgia.

(With inputs from agencies.)