South Korea Hyundai to announce an American investment of $ 20 billion

South Korean Hyundai will announce an investment of $ 20 billion in the United States, which includes a 5 billion dollar steel factory in Louisiana, according to persons familiar with the plans.

The factory has been appointed to employ approximately 1500 employees and will produce steel from the next generation that will be used by two auto manufacturers in Hyundai to manufacture electric cars. It is expected that the investment will be announced on Monday at the White House by President Donald Trump, Euisun Chung and the ruler of Louisiana Jeff Landri.

The Hyundai advertisement comes at a time when major international blocs are racing to avoid customs tariffs and avoid a trade war before the date of Trump on April 2. Tsmc in Taiwan and Softbank in Japan are among the main foreign players who have visited the White House in the past two months to announce major plans in the United States.

Hyundai Motor Monoz CEO Recently tell Axius The “best way for (Hyundai) to move in definitions is to increase localization.”

The South Korean company is a better seller for electric cars in the United States, and it competes directly with Timing. It already has two main cars in the United States, one in Alabama and the other in Georgia. Hyundai is also expected to announce on Monday the opening of a third car factory, also in Georgia.

South Korea is also among the countries of the United States with a commercial deficit. In early March, Trump It was customized South Korea to implement a high tariff to American exports, saying that the Asian ally tariff was four times higher than those in the United States.

Seoul has concluded this defect. As of the year 2024, the rate of effective tariffs of South Korea on US imports reached 0.79 % as countries have a free trade agreement, according to the South Korean government.

The White House did not immediately request a request to comment on the two ads. Hyundai refused to comment.