Quick Hit:

South Korean auto giant Hyundai is expected to announce a $20 billion investment in its U.S.-based operations on Monday. President Donald Trump, Hyundai Chairman Euisun Chung, and Louisiana Gov. Jeff Landry will make the announcement at the White House, which includes a $5 billion next-generation steel plant in Louisiana.

Key Details:

The new Louisiana steel plant will employ roughly 1,500 workers and produce advanced steel for Hyundai’s electric vehicle production in the U.S.
Hyundai currently operates auto plants in Alabama and Georgia, and Monday’s announcement is expected to include plans for a third automotive facility in Georgia.
The investment comes ahead of Trump’s April 2nd tariff deadline, as global companies race to avoid trade penalties by expanding U.S. operations.

Diving Deeper:

Hyundai is preparing to announce a sweeping $20 billion investment in U.S. manufacturing, including the construction of a $5 billion advanced steel plant in Louisiana, according to a report from CNBC. The announcement will be made Monday at the White House during an event featuring President Donald Trump, Hyundai Chairman Euisun Chung, and Louisiana Governor Jeff Landry.

The planned facility in Louisiana will focus on producing next-generation steel for Hyundai’s American electric vehicle operations and is expected to bring about 1,500 new jobs to the state. The steel produced will supply Hyundai’s current plants in Alabama and Georgia, both of which are central to the company’s EV production strategy. CNBC also reports that Hyundai is set to announce a third automotive plant in Georgia, further deepening its U.S. footprint.

Hyundai’s decision to dramatically expand operations in the United States comes as international firms rush to secure their place in American markets amid rising trade pressure. With President Trump’s April 2nd deadline for new tariffs looming, global players including Taiwan Semiconductor Manufacturing Co. and Japan’s SoftBank have already made high-profile White House visits to unveil major onshoring efforts. Hyundai Motor CEO José Muñoz recently explained to Axios that “the best way for [Hyundai] to navigate tariffs is to increase localization.”

Hyundai has emerged as one of the leading sellers of electric vehicles in the U.S. market, competing directly with Tesla. By boosting its U.S.-based production and steel sourcing, Hyundai appears to be betting big on avoiding potential tariffs while aligning with Trump’s push to reindustrialize America.

While the White House did not immediately comment to CNBC on the planned announcement, Press Secretary Karoline Leavitt later shared the network’s report on X, stating: “More investments, more jobs, and more money in the pockets of hardworking Americans–all thanks to President Trump’s economic policies.”