"There are some economic development projects that any country would covet. Big, automotive factories, for one, especially those turning out the next-generation vehicles. High-tech jobs for generations to come. An entire ecosystem of suppliers and related companies around that project, propping up an entire region's manufacturing sector. South Korea's Hyundai Motor Group has offered all of that, and then some, to the United Statesits biggest global market, and the home country's most important ally and friend."
"The latest challenge is tariffs. U.S.-South Korea tariff rate negotiations remain ongoing, unlike other nations with whom the Trump administration has signed new trade agreements. The tariff rate is currently 25% on Korean imported goods, but it's supposed to fall to 15%it's just unclear when, exactly. The Trump administration is demanding more direct investment in the U.S., according to reports."
Major automotive factories deliver next-generation vehicles, durable high-tech jobs, and supplier ecosystems that support regional manufacturing. Hyundai Motor Group has invested heavily in the United States, including a state-of-the-art Georgia Metaplant that produces the Ioniq 5 and Ioniq 9 EVs and will add hybrids. U.S.-South Korea tariff negotiations remain unresolved, with a 25% tariff on Korean imports currently in place and an intended reduction to 15% at an unclear date. U.S. officials are seeking additional direct investment in the United States. Tariff-related price increases are expected to affect upcoming 2026 model-year cars.
#hyundai-motor-group #us-south-korea-tariffs #electric-vehicles #automotive-manufacturing #georgia-metaplant
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