WASHINGTON: South Korean auto giant Hyundai will on Monday unveil a multi-billion-dollar investment in the United States, the White House announced, which will include billions for a Louisiana steel plant.
“Hyundai will announce a $20 billion investment in the US later today — including $5.8 billion for a steel plant in Louisiana,” the White House said in a social media post, without elaborating further.
It was not immediately clear how much of the funding set to be announced on Monday is new.
Hyundai’s expected announcement would make it the latest firm to announce plans to invest billions of dollars into the United States since Donald Trump’s return to power in January.
The US president has repeatedly threatened to impose painful tariffs on companies that do not relocate manufacturing jobs to the United States from overseas.
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