Trump announces billion-dollar Hyundai investment in the country that includes steel plant in Louisiana

This Monday, President Donald Trump announced a billion-dollar investment by Hyundai. The Republican presented the investment as a triumph of his economic strategy based on the aggressive use of tariffs to pressure foreign companies.

The South Korean automaker Hyundai unveiled an ambitious $20 billion investment plan in the United States on Monday, highlighting among its projects the construction of a new steel plant in Louisiana.

"This investment is a clear demonstration that tariffs very strongly work" Trump said during the event, noting that Hyundai's decision is a response to his election victory in November and his policy of imposing levies on imports.

Of the $20 billion Hyundai plans to invest over the next four years, $5.8 billion will be specifically earmarked for the steel plant in Louisiana, a project that officials say will generate approximately 1,500 jobs in the state.

The announcement took place in the presence of Hyundai president Euisun Chung, Louisiana Governor Jeff Landry and leading members of the state's congressional delegation, including House Speaker Mike Johnson and Majority Leader Steve Scalise.

Chung, for his part, noted that “Hyundai Motor Group is proud to be a stronger partner in America's industrial future."

The investment comes at a time when foreign companies are adjusting their strategies in the face of the Republican administration's impending imposition of new tariffs.

On Trump's tariffs

The president has vowed to implement reciprocal tariffs starting April 2 on countries that levy duties on US products, in addition to threatening targeted levies on sectors such as automobiles, pharmaceuticals and semiconductors.

Trump defended his approach, arguing that the tariffs will not only increase government revenue, but also incentivize foreign companies to set up operations in the United States to avoid the associated costs.

Hyundai's announcement could be a sign that the Administration and its policies are attracting foreign investment, while highlighting Louisiana's strategic role in US industrial expansion.

The steel plant not only promises to boost the local economy, but also symbolizes the effectiveness of Trump's economic vision in his second presidential term.