Hyundai to Invest $21 Billion in US in Bid to Avoid Trump’s Tariffs
Hyundai already makes cars in the United States, in Georgia and Alabama.
It Is Happening Every Day, Every Where
Hyundai already makes cars in the United States, in Georgia and Alabama.
Aerospace companies are big exporters but also very reliant on a global supply chain, making them vulnerable.
Tariffs, tax credits and deregulation are among the industry’s top priorities.
Trade wars with allies could spiral as the president tries to get trading partners to back down from retaliation with new threats of his own.
President Trump imposed a 25 percent tariff on metal imports. The move is expected to raise costs for U.S. manufacturers of cars, solar panels and other products, potentially slowing the economy.
His administration has acknowledged that exceptions undercut the power of tariffs, but it seems hard for the president to resist making deals.
Concern about the cost of materials has tempered business enthusiasm about taxing imports. But steel and aluminum makers say they welcome the help.
The cost of steel pipe used to line oil and gas wells rose after President Trump said he would impose tariffs on steel and aluminum imports.
The company’s renewed interest comes after the Biden administration blocked Nippon Steel from acquiring the onetime American powerhouse.
The companies argue in a lawsuit that the process of reviewing the transaction was corrupted by politics.