‘Money Is Pouring In’: President Donald Trump Announces Hyundai, Other Companies Investing Billions in U.S.
At the White House on Monday, Trump announced that Hyundai is investing $20 billion in the U.S.
South Korean-based Hyundai announced a $20 billion investment in the U.S., .
President Donald Trump alongside Hyundai Chairman Euisun Chung and Louisiana Gov. Jeff Landry at the White House on Monday.
The investment includes building a $5 billion steel plant in Louisiana that’s expected to add around 1,500 jobs.
Related: Softbank CEO Masayoshi Son Announced a $100 Billion Investment in the U.S.
It’s the latest in a series of U.S. investment announcements.
“Money is pouring in,” at the event. “This investment is a clear demonstration that tariffs very strongly work.”
that Hyundai Motor CEO José Muñoz said the best way his company can “navigate tariffs” is to “increase localization.”
Meanwhile, Johnson & Johnson (J&J) that it will invest more than $55 billion in the U.S. over four years, including building four new manufacturing plants, in investments compared with the four years prior.
“Our increased U.S. investment begins with the ground-breaking of a high-tech facility in North Carolina that will not only add U.S.-based jobs but manufacture cutting-edge medicines to treat patients in America and around the world,” J&J Chairman and CEO Joaquin Duato said in a statement.
Moreover, last month, Eli Lilly and Co., a rival of J&J, announced it intends to build in the U.S. and bring 10,000 construction jobs along with 3,000 jobs for engineers, scientists, operations personnel, and lab technicians.
South Korean-based Hyundai announced a $20 billion investment in the U.S., .
President Donald Trump alongside Hyundai Chairman Euisun Chung and Louisiana Gov. Jeff Landry at the White House on Monday.
The investment includes building a $5 billion steel plant in Louisiana that’s expected to add around 1,500 jobs.
