Hyundai Motor Company is set to announce a massive $20 billion investment in the United States, aimed at expanding its manufacturing operations and boosting domestic production. A key part of the plan includes a $5 billion steel plant in Louisiana, which is expected to create thousands of jobs and strengthen the US supply chain. The announcement will be made at the White House, where President Donald Trump will be joined by Hyundai Chairman Euisun Chung and Louisiana Governor Jeff Landry.

White House Press Secretary Karoline Leavitt praised the deal, attributing it to President Trump’s pro-growth economic policies. “More investments, more jobs, and more money in the pockets of hardworking Americans – all thanks to President Trump’s economic policies,” Leavitt wrote on social media. The investment is part of a broader effort by the Trump administration to revitalize US manufacturing and reduce dependence on foreign production.

Trump has already imposed 25% tariffs on steel and aluminum imports, along with additional levies on cars from Asia and Europe set to take effect next month. The tariffs are designed to encourage companies to build more vehicles in the US rather than importing them. Hyundai’s investment signals confidence in Trump’s policies and a commitment to expanding its American footprint.

The $5 billion steel plant in Louisiana is expected to be a major boost for the state’s economy, creating both construction and permanent manufacturing jobs. Louisiana Governor Jeff Landry hailed the investment as a “game-changer” that will revitalize local communities and attract further industrial growth.

Hyundai’s expansion comes amid a broader trend of automakers reevaluating their production strategies in response to Trump’s trade policies. The move underscores the growing appeal of US-based manufacturing, driven by a combination of tax incentives, tariffs, and a push for greater economic self-reliance.