The “Big Show for Money” panel discusses President Donald Trump’s plan to return production to America.
Hyundai’s plans To invest $ 20 billion to bring in US operations, the White House official confirmed to Fox Business.
Part of the South Korean carmaker’s investment will go to the construction of a next -generation steel plant. The materials will be used in two of its American plants and will employ 1,500 people. The remaining money will be earmarked for expanding US production
The automotive manufacturer is the latest among the growing number of companies announcing plans to increase US investment under the Trump administration, which uses tariffs to encourage companies to return production to US soil and reduce foreign products.
Underlining the administration’s mission, Vice President JD Vance announced on X earlier this month that companies would be rewarded for investing in and job creation in America.
“We will reduce regulations and cut taxes. But if you build outside the United States, you are alone,” he wrote.
Hyundai news comes just weeks after Ge Aerospace released a Investment almost $ 1 billion To help “strengthen production and increase the use of innovative new parts and materials needed for the future of the flight”. ГЕ рече дека средствата, скоро двојно минатогодишната обврска, ќе помогнат во зголемувањето на безбедноста, квалитетот и испораката на моторите, во корист на повеќе од дваесетина заедници во 16 држави. GA said he would also hire about 5,000 US production and engineering workers.
Logo to South Korean carmaker Hyundai. (Photo: Yurico Nakao / Getty Pictures / Getty Pictures)
Eli Lily invests $ 27 billion more in US production
Eli Lily announced in February that it was investing an additional $ 27 billion to boost domestic drug production, making the US US investment more than $ 50 billion in 2020.
Apple has also announced that it is making $ 500 billion over the next five years, which will include the construction of an advanced factory for the production of AI’s servers near Houston, as well as doubling the company’s advanced production fund from $ 5 billion to $ 10 billion.
The Technical Giant also plans to establish an Academy of Apples In Detroit, As well as hire 20,000 new employees with a focus on research and development, silicone engineering, artificial intelligence and machine learning.
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The semiconductor production company in Taiwan has said it will invest $ 100 billion in chips production and US -based CMA CGM CGM, will invest $ 20 billion in delivery and logistics in the United States.
SoftBank, desires, target Others have also committed themselves to investing in the United States under Trump. Even CEO of Nissan Makoto Studida pointed out that Trump’s tariffs could force the carmaker to transfer its production out of Mexico.
An employee of Hyundai Motor is working on a Hyundai Elantra vehicle on the assembly line. (Doug Canter / Bloomberg through Getty Images / Getty Images)
The administration predicted that “Trump is on a mission to make America’s production superpower.” While economist Michael Santo believes that moving more production back to the United States is a “worthy goal”, he said “it will take time and will not be painless”.
“Building advanced factories such as chip founders can last for years and cost billions of dollars,” Santo said. He said prices could rise in the near future because the United States lacks “some people even build some factories, let alone hire them.”
However, he said that “our strength in production is that the United States has some of the largest energy resources to power our factories cheaply” and that “in the future progress in automation and robotics will allow us to mitigate the deficiencies of staff”.
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