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Trump's tariffs are already working: South Korea's Hyundai announces $21 billion U.S. investment By HatetheSwamp March 24, 2025 12:56 pm Category: International (0.0 from 0 votes) Rules of the Post Write A New Article How To Post Here

I'm no fan of Tangerine Man nor tariffs, as I've made clear, but I have to give credit where credit is due.

South Korean conglomerate Hyundai on Monday announced a roughly $21 billion investment in U.S. onshoring.

A new steel plant in Louisiana, which is part of the investment, is set to hire more than 1,400 employees and will produce next-generation steel that will be used by Hyundai's two U.S. auto plants to manufacture electric vehicles.

The plant is set to hire more than 1,400 employees and will produce next-generation steel that will be used by Hyundai's two U.S. auto plants to manufacture electric vehicles. The investment was announced Monday at the White House by President Donald Trump, Hyundai Chairman Euisun Chung and Louisiana Gov. Jeff Landry.

Cited and related links:

1. cnbc.com

Comments Start Below

by Curt_Anderson on March 24, 2025 1:21 pm This announcement may have less to do with Trump's tariffs than the White House would have you believe. Hyundai in 2022 said it would invest about $10 billion through 2025 in the United States; it is unclear whether all of that money was spent, or if Monday's $20 billion includes some portion of that previously announced investment. Hyundai Motor declined to comment. A spokesperson at Hyundai Steel (004020.KS), opens new tab was not immediately available for comment. [Louisiana Governor Jeff] Landry travelled to South Korea in October and met with Hyundai to discuss the investment plan. Landry’s visit helped advance negotiations with Hyundai, which will benefit from tax incentives and industrial tax exemptions. reuters.com 710keel.com by HatetheSwamp on March 24, 2025 1:26 pm "This announcement may have less to do with Trump's tariffs than the White House would have you believe." It may have tons to do with the tariffs. This is precisely what Trump hoped would happen if he levied tariffs. by Curt_Anderson on March 24, 2025 1:38 pm Notice the timing of the January 9th 710keel.com report: "Hyundai to Bring New Steel Plant With 1300 New Jobs to Louisiana". It was announced while Biden was president. The Hyundai-Louisiana negotiations have been going on since at least 2022. Landry was in South Korea finalizing the deal last October. by meagain on March 24, 2025 4:18 pm The investment was planned in 2019 and Trump was included then. It has nothing at all to do with tariffs. Companies don't make multi-billion investments on a whim. This has been 5 years or more in the planning stage. by ROB3RT on March 24, 2025 8:17 pm Hater wrote; I'm no fan of Tangerine Man nor tariffs, as I've made clear, but I have to give credit where credit is due. That is a lie. You are engaging in the common practice of a propagandist, inserting an inoculation to lend your main message more credibility. Inside your little MAGA brain, you're thinking, "If I first make them think I really don't like Trump, they won't question me when I praise him." Well, wrong. I've been in this forum long enough to realize that you haven't yet produced a keystroke that wasn't in service of supporting Trump and tearing down his opponents. You are MAGA to the bone, a troll who spends every waking moment thinking of new ways to give your cult leader a virtual hand job. You know it. I know it. Everybody knows it. Do us a favor and drop the pretense. by oldedude on March 24, 2025 8:48 pm As usual, looking at Left wing media, neither of you would find anything. ROK papers (other than the "Korean Harold" which is generally more right than BBC or any of the other ROK papers). For the most part, all the papers hate the DPRK (which makes sense), but are very fair minded about every other country in the world. Korea Among Nations Targeted for Potential High-Level Tariffs by Trump Administration Amid escalating trade tensions, South Korea finds itself potentially targeted by the United States for reciprocal tariffs, as reported by the Wall Street Journal (WSJ) on March 23. This development follows U.S. President Donald Trump's focus on addressing what he perceives as unfair trade practices, with South Korea being singled out as a potential target. The tariffs, if implemented, could reach the highest levels in decades, significantly impacting the trade dynamics between the two nations. The WSJ, citing sources, indicated that the countries subject to these tariffs are expected to align with those previously identified by the U.S. Trade Representative (USTR) in the Federal Register. This list includes major economic players such as the G20 countries, Argentina, Australia, Brazil, Canada, China, the European Union, India, Indonesia, Japan, South Korea, Malaysia, Mexico, Russia, Saudi Arabia, South Africa, and Taiwan. Collectively, these nations account for a staggering 88% of the U.S.'s total goods trade, underscoring the potential global impact of the proposed tariffs President Trump is anticipated to leverage emergency economic powers to announce and implement these tariffs swiftly. The strategy, as described by a senior foreign official, aims to pressure countries into negotiations through the threat of these tariffs. However, it is expected that sectoral tariffs on automobiles, semiconductors, and pharmaceuticals will not be announced on April 2, providing a temporary reprieve for these industries. How the Trump Administration Views Reciprocal Tariffs The concept of reciprocity has garnered significant attention since the inauguration of U.S. President Donald Trump on January 20. One of his first actions was signing the America First Trade Policy executive order, which tasked the secretary of commerce with investigating the causes of the United States’ large and persistent trade deficit in goods and recommending appropriate actions with the support of the secretary of the treasury and the U.S. trade representative. Three weeks later, on February 13, Trump singled out the lack of reciprocity as a source of U.S. trade deficits in his Reciprocal Trade and Tariffs executive order. The administration’s method of defining and imposing reciprocal tariffs will have different implications for trading partners. With respect to South Korea’s agricultural tariffs, reciprocal tariffs—in the strictest sense—will have a limited impact. However, if the United States targets key categories of South Korean exports, including automobiles and steel, to achieve an effective tariff rate that may exceed current effective tariffs on U.S. agricultural exports to South Korea, pending the Department of Commerce’s upcoming assessments of South Korean tariffs, the effects could be significant. To make matters more complex, Trump also leaves open the possibility of imposing tariffs to address other issues in the bilateral relationship, such as immigration and military support. businesskorea.co.kr keia.org Go To Top

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