Hyundai Steel Considers Building a Steel Plant in the US in the Face of Trump’s Tariff Threats

Date:

South Korea’s Hyundai Steel, part of the Hyundai Motor and Kia automotive conglomerate, is seriously considering opening a steel plant in the southeastern United States. This decision comes against a backdrop of growing uncertainty due to protectionist trade policies that US President Donald Trump may implement, including the imposition of 25% tariffs on Mexico and Canada from 1 February.

Drivers of the Decision

Amid a changing trade scenario, Hyundai Steel believes a plant on US soil could be a strategic move in the face of potential tariffs and trade barriers that the US could impose on other markets.

The Trump administration has shown its intention to apply tariffs to both the European Union and China, which could alter the dynamics of international trade and affect the automotive industry that depends on imported steel for the manufacture of vehicles.

LEE MÁS: Biden Warns of the Risks of Power Concentration and Oligarchy

Objective: Supply Steel to Local Automakers

If the project goes ahead, the Hyundai Steel plant would be dedicated to the production of steel, especially plate, to supply US carmakers.

Hyundai Motor and Kia already have vehicle manufacturing plants in Alabama and Georgia, and the construction of a steel plant near these facilities could ensure a more direct and efficient supply of materials, in line with the production needs of their factories in the US and Mexico.

Keep up with the most important news of Economic World of Texas in all the platforms of Mundo Ejecutivo and in its social networks.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Popular

More like this
Related

Jorge Más Santos Explores New Investment Opportunities in Argentina

Jorge Más Santos, the principal shareholder of Inter Miami,...

888 Brickell Miami Dolce & Gabbana: A New Standard in Luxury Living

The demand for high-end real estate continues to grow...

Miami Experts Weigh in on U.S. Tariffs Impact

On Saturday, U.S. President Donald Trump revealed new tariffs...

Elon Musk and his Power in the Trump Administration

President Donald Trump referred to billionaire Elon Musk, who heads the Department...