South Korean-based Hyundai announced a $20 billion investment in the U.S., CNBC reported.
President Donald Trump made the announcement alongside Hyundai Chairman Euisun Chung and Louisiana Gov. Jeff Landry at the White House on Monday.
The investment includes building a $5 billion steel plant in Louisiana that’s expected to add around 1,500 jobs.
Related: Softbank CEO Masayoshi Son Announced a $100 Billion Investment in the U.S.
It’s the latest in a series of U.S. investment announcements.
“Money is pouring in,” Trump said at the event. “This investment is a clear demonstration that tariffs very strongly work.”
Axios recently reported that Hyundai Motor CEO José Muñoz said the best way his company can “navigate tariffs” is
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