President Trump Announces a $20B Investment by Hyundai in the U.S.

EXCERPT:

TRUMP: “Good to have you with us. Today we’re delighted to report that Hyundai is announcing a major $5.8 billion investment in American manufacturing. In particular, Hyundai will be building a brand new steel plant in Louisiana, which will produce more than 2.7 million metric tons of steel a year, creating more than 1,400 jobs for American steel workers and then there will be major expansion after that. This will be Hyundai’s first ever steel mill in the United States, one of the largest companies in the world, by the way, supplying steel for its auto parts and auto plants in Alabama and Georgia, which will soon produce more than one million American-made cars every single year. The cars are coming into this country at levels never seen before. Get ready. This investment is a clear demonstration that tariffs very strongly work, and I hope other things also, but the tariffs are bringing them in at levels that have not been witnessed.”