South Korean automotive giant Hyundai has announced a $21bn (£16.3bn) investment in the United States. This includes the establishment of a new $5.8bn steel plant in Louisiana. Hyundai also plans to expand its vehicle production in America and invest heavily in emerging technologies such as autonomous driving and artificial intelligence (AI). The announcement coincides with the Trump administration’s intention to impose new tariffs on trading partners starting April 2. During a White House event, President Trump emphasized that this investment highlights the effectiveness of tariffs. He also indicated that additional tariffs on vehicle imports may be announced this week. The new steel facility is expected to produce over 2.7 million metric tons annually and create more than 1,400 jobs, supplying Hyundai’s plants in Alabama and Georgia. Hyundai aims to boost its US production to 1.2 million vehicles per year by 2028 with a $9bn investment. Furthermore, the company has allocated $6bn for partnerships with US firms to develop technologies like self-driving cars, robotics, and AI. Hyundai is also inaugurating a $7.59bn car and battery factory in Georgia. The company plans to purchase $3bn worth of liquefied natural gas (LNG) from the US. This announcement precedes Trump’s plan to impose reciprocal tariffs globally, potentially affecting South Korea due to its trade surplus with the US. Last month, Trump imposed a 25% import tax on steel and aluminum, extending to various metal products. US carmakers like General Motors and Ford have urged exemptions for car and vehicle parts from these tariffs. — news from BBC.com