Hyundai Announces $5.8b US Investment, Building First-Ever Steel Plant In Louisiana

Hyundai has revealed plans for a massive $5.8 billion investment in American manufacturing, announcing the construction of its first-ever steel mill in the United States. Located in Louisiana, the new facility will produce over 2.7 million metric tons of steel annually and create more than 1,400 American jobs. This major development is aimed at supplying steel directly to Hyundai's auto plants in Alabama and Georgia, projected to produce over one million American-made vehicles each year. Highlighting the success of tariffs in attracting foreign investments, this move demonstrates how tariff policies have motivated global manufacturers to establish production within U.S. borders. As Hyundai manufactures steel and vehicles domestically, it benefits from tariff exemptions, underscoring the effectiveness of trade strategies.