Tuesday, March 25, 2025
Year : 2, Issue: 30
USA Today: President Donald Trump on Monday announced a $5.8 billion investment from Hyundai in a Louisiana steel manufacturing plant as part of $21 billion in planned U.S. investment over the next four years.
The South Korean company’s first steel mill in the U.S. will create 1,300 jobs, a company official said. The steel will be used in car and parts plants in Alabama and Georgia aiming to build 1 million cars per year.
“Get ready. This investment is a clear demonstration that tariffs very strongly work,” Trump said in the Roosevelt Room of the White House, surrounded by House leaders, state officials and car executives. “They’ll be making their cars here in America.”
The announcement was part of a string of big-dollar investments from companies such as Apple and computer chip makers that Trump attributed to the threat of tariffs on imported goods. Trump has already imposed 25% tariffs on steel and aluminum, and broader tariffs are slated to go into effect April 2 matching whatever a foreign country is charging for the same products.
ouisiana Gov. Jeff Landry, a Republican, said he and state lawmakers had been overhauling taxes, education and public safety for a year to entice investment like Hyundai’s.
“For decades now, Americans have seen jobs being off-shored rather than on-shored,” Landry said. “This is a message for all America that this president and governors out there care about the American worker.”
Trump assured Hyundai officials to see him if they have any trouble getting permits for their plants. The president also boasted about approving permits in a week for two liquefied natural gas plants in Louisiana that had been languishing for years.
