South Korean automotive giant just opened its factory in Georgia before Trump announced new tariffs on imports of foreign-made vehicles.
US President Donald Trump signed an executive order Wednesday imposing 25% tariffs on imports of foreign-made cars and light trucks as he continued his global import duty push.
Before the announcement, Hyundai opened its Metaplant America, saying: “The key pillar of the Group’s $12.6 billion investment in Georgia and the largest economic development project in the state’s history.”
“Vehicle assembly and battery plant will produce up to 500,000 electric and hybrid vehicles annually for Hyundai, Kia and Genesis brands,” the firm’s statement on Wednesday read.
The firm also commits to an additional $21 billion investment from 2025 to 2028 to drive US manufacturing growth while since entering the US, the firm has invested $20.5 billion in the country, creating around 570,000 jobs.