Trump Announces Hyundai’s $21 Billion Investment in Louisiana

‘This investment is a clear demonstration that tariffs very strongly work,’ the president says.

New Hyundai cars are displayed on the sales lot of a dealership in San Leandro, Calif., on May 30, 2023. Justin Sullivan/Getty Images

South Korean-based Hyundai announced a $20 billion investment in the United States, joining a growing list of foreign companies investing in the world’s largest economy.

Hyundai Executive Chairman Chung Eui-sun, appearing alongside President Donald Trump and Louisiana Gov. Jeff Landry, unveiled the onshoring plan at the White House.