South Korea’s largest automaker, Hyundai, sought to get on President Donald Trump’s good side Monday as it pledged to invest $21 billion in the U.S. over the next four years.
With Trump poised to announce country-by-country tariffs next week, Hyundai Chair Euisun Chung appeared alongside the president at the White House to say his company would build a nearly $6 billion low-carbon steel plant in Louisiana, ramp up its U.S. production of electric vehicles and bankroll new EV charging stations, among other high-tech plans.
“You know, there are no tariffs if you make your product in America,” Trump said at the Monday event.
Hyundai is the latest in a series of big companies that have announced multibillion-dollar investments in the U.S. since Trump took office, including Johnson & Johnson, Apple and Nvidia. Chung, who got a business degree from the University of San Francisco in the 1990s, said the investments represented “our shared vision for U.S. industrial leadership.”
