Hyundai Motor announced a significant $5.8 billion investment in expanding its manufacturing in the U.S., including a new steel plant in Louisiana. This facility will produce over 2.7 million metric tons of steel annually, creating more than 1,400 jobs for American workers. The move is hailed by proponents of tariffs as proof of their effectiveness, asserting that producing goods domestically eliminates tariff costs, thus encouraging foreign companies to invest in American manufacturing.
Today, we're delighted to report that Hyundai is announcing a major $5.8 billion investment in American manufacturing. This will create more than 1,400 jobs for American steel workers.
This investment is a clear demonstration that tariffs very strongly work. Hyundai will be producing steel in America and making its cars in America.
As a result, they'll not have to pay any tariffs. There are no tariffs if you make your product in America.
Hyundai is expanding its manufacturing capabilities in the U.S., showcasing the effectiveness of tariffs imposed on foreign-made goods.
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