Hyundai to build new steel plant in Louisiana

Hyundai will build a new steel plant in Louisiana, President Donald Trump announced Monday.

It will produce more than 2.7 million metric tons of steel a year, according to the president. Eui-sun Chung, the executive chairman of Hyundai said the plant in Louisiana will create 1,300 American jobs.

Because Hyundai will be producing steel and making its cars in America, they won’t have to pay any tariffs, Trump said.

Louisiana Gov. Jeff Landry, a Republican, was at the White House in Washington, D.C. for the announcement. In 2023, Trump endorsed Landry in the Louisiana governor’s race, saying he had been a “fantastic attorney general.” Landry served as Louisiana’s attorney general from 2016 to 2024. In February, Trump appointed Landry to the Council of Governors.

The Louisiana steel plant is part of a $21 billion investment Hyundai will be making in the next couple years, Trump said. Hyundai will also be “massively” increasing its auto manufacturing in Georgia, he said, and investing billions of dollars in advanced American technology companies.