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Trump Says Hyundai’s New U.S. Investments Prove His Tariffs Work
Hyundai Motor, a South Korean conglomerate known for its automobiles, announced on Monday that it would make investments to expand manufacturing in the United States.
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Today, we’re delighted to report that Hyundai is announcing a major $5.8 billion investment in American manufacturing. In particular, Hyundai will be building a brand new steel plant in Louisiana, which will produce more than 2.7 million metric tons of steel, a year, creating more than 1,400 jobs for American steel workers. And then there’ll be major expansion after that. This investment is a clear demonstration that tariffs very strongly work. Hyundai will be producing steel in America and making its cars in America, and as a result, they’ll not have to pay any tariffs. There are no tariffs if you make your product in America.
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