Hyundai is reportedly preparing to make a substantial investment in U.S. manufacturing, with plans to unveil a $20 billion commitment today. Reports suggest that executives from the South Korean automaker will announce the investment at a ceremony at the White House with President Trump and Louisiana Gov. Jeff Landry. The investment will include the construction of a $5 billion steel plant in Louisiana. This move by Hyundai follows recent decisions by other major companies like Taiwan Semiconductor Manufacturing Co. and SoftBank to also increase their investments in the U.S. as President Trump emphasizes boosting domestic manufacturing. The decision to invest heavily in the U.S. was influenced by the impending reciprocal tariffs on foreign imports set to take effect on April 2. Earlier this year, Hyundai CEO Jose Munoz emphasized the company's strong focus on the American market and their strategy to navigate tariffs through increased localization.