The newsletter Supply Lines provides daily updates on global trade. President Donald Trump praised Hyundai Motor Co.'s plans to expand significantly in the US, viewing it as a validation of his administration's use of tariffs to encourage foreign manufacturers to create jobs in America. During an event at the White House with Louisiana Governor Jeff Landry and Hyundai executives, Trump announced Hyundai's $5.8 billion investment in American manufacturing, including the construction of a new steel plant in Louisiana. This investment is seen as evidence by Trump that tariffs are effective in driving economic growth.

Hyundai intends to invest approximately $21 billion in the US by 2028 to boost vehicle production and other projects, which is anticipated to generate around 14,000 direct jobs. The investment includes $9 billion to increase factory output to 1.2 million vehicles annually and an additional $12 billion for initiatives such as the new steel plant in Louisiana. Hyundai Chairman Chung Euisun emphasized that this investment will enhance the steel supply chain in the US and highlighted a $3 billion investment in American liquefied natural gas.

As part of a broader trend, Hyundai joins other foreign companies in pledging to expand production in the US under Trump's trade policies. The president's strategy involves imposing tariffs on steel and aluminum and is set to announce additional import taxes on April 2. The administration will reveal reciprocal tariffs targeting nations based on the barriers they impose on US goods, with South Korea being among the countries identified by Trump as engaging in unfair trade practices.