Louisiana Governor Praises Trump’s Tariff Plan as Hyundai Announces $5.8 Billion Steel Plant

Louisiana Governor Jeff Landry has praised President Donald Trump’s reciprocal tariffs policy as “genius,” crediting the approach with attracting major foreign investment to the United States, including a $5.8 billion Hyundai steel plant in Louisiana.

Speaking on Newsmax’s “Rob Schmitt Tonight”, Landry celebrated the announcement, calling it a win for Louisiana workers and a sign that Trump’s trade policies are revitalizing American manufacturing.

Key Points from the Announcement:

1. Hyundai’s $20 Billion U.S. Investment
   • South Korean automaker Hyundai will invest $20 billion in the U.S., including $5.8 billion for a new steel plant in Donaldsonville, Louisiana—about 65 miles west of New Orleans.
   • The steel factory will produce metal components for Hyundai’s vehicle plants in Alabama and Georgia.
   • Construction is expected to begin in the third quarter of 2026 and be completed by 2029, creating nearly 1,500 jobs.
2. Trump’s Reciprocal Tariffs Policy
   • Reciprocal tariffs, set to be announced on April 2, aim to match levies imposed by other countries on U.S. exports.
   • While industry-specific tariffs may be excluded for now, the administration plans to target nations with large trade surpluses with the U.S.
   • Trump confirmed that Hyundai will be exempt from these tariffs due to its investment in the U.S..
3. Governor Landry’s Praise for Trump
   • Landry argued that Trump’s policies correct decades of unfair trade practices, saying:
   “His reciprocal tariffs are actually genius. And what we’re seeing is investment coming back into this country.”
   • Landry also highlighted Louisiana’s efforts to attract the project, including an economic delegation visit to South Korea by him and his wife in 2024.
4. Economic Impact on Louisiana
   • The Hyundai plant represents Hyundai’s first U.S. steel mill, strengthening the local economy and manufacturing base.
   • The project is expected to revitalize the Mississippi River corridor and bring long-term economic growth to the region.

Political and Economic Context:

• Trump’s tariff strategy aims to protect American industries and encourage foreign companies to relocate production to the U.S..
• Hyundai’s commitment aligns with broader Republican goals of onshoring manufacturing and reducing reliance on foreign supply chains.

The announcement is seen as a political win for both Trump and Landry, reinforcing their pro-business and economic nationalism agendas while delivering tangible economic benefits to Louisiana.