Hyundai plans fresh $20 billion investment in US, including new Louisiana steel plant, as tariff threats loom

Hyundai plans to put a caller $20 cardinal successful the US, including with a caller alloy works successful Louisiana — making it the latest large overseas steadfast moving much of its operations to America to debar impending tariffs.

The South Korean car shaper is expected to conception the $5.8 cardinal works adjacent Donaldsonville, with the caller installation acceptable to make 5,500 nonstop and indirect jobs, CBS said Monday.

President Trump volition denote the plans on with Louisiana Gov. Jeff Landry astatine the White House astatine 2 p.m. portion touting home manufacturing and the archetypal Hyundai alloy works to determination overseas, the White House confirmed to The Post.

The task volition beryllium portion of a planned caller $20 cardinal US concern for Hyundai, according to CNBC.

The Asian car-maker already has factories successful Alabama and Georgia, but this alloy works would beryllium its archetypal overseas alloy installation and proviso alloy to the company’s factories successful the adjacent states.

Trump announced a 25% tariff connected alloy and aluminum successful February connected each foreign-made metals but said those produced successful the US would not beryllium impacted.

“I’m simplifying our tariffs and steel and aluminum so that everyone can understand exactly what it means. It’s 25%, without exceptions or exemptions,” Trump said successful February.

“And that’s all countries, no matter where it comes from, all countries. If it’s made successful the United States of America, there is no tariff, zero,” helium said.

The Hyundai announcement comes amid Trump’s planetary alloy tariff threats and his upcoming April 2 deadline to instal reciprocal different tariffs — and incentives for overseas companies to determination to the US.

Other overseas companies, including Japan’s Softbank and Taiwan Semiconductor Manufacturing Co., precocious announced large planned investments into the US to effort to curry favour with the medication earlier the tariffs footwear in.

South Korea is 1 of the apical 10 countries with commercialized deficits with the US that favour them. The Asian state volition apt beryllium targeted successful the White House’s April 2 planetary announcement intended to reciprocate the aforesaid tariffs that America’s trading partners levy connected it.

“April 2nd is going to beryllium liberation time for America. We’ve been ripped disconnected by each state successful the world, person and foe,” Trump said Friday astir the upcoming tariff announcements.

Hyundai CEO José Muñoz, speaking to Axios earlier Trump came to powerfulness successful January, said the then-president-elect’s promised tariff policies incentivized the institution to travel to the US.

“We decided to put large clip successful America arsenic the astir important market,” Muñoz said.

“So the champion mode for america to navigate tariffs is to summation localization.”