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As president Donald Trump Plans for the stinging of tariffs on imported cars and other products, Hyundai, a South Korean company with a significant American print, amounts to its involvement in the American economy.
Trump indicated that Auto tariff will be “in a 25%neighborhood.”
“Ever since he entered the United States, Hyundai Motor Group has invested $ 20.5 billion in the United States, creating and supporting more than 570,000 US jobs,” a spokesman for Hyundai Moto, North America, provided a statement on Friday.
Trump says he will introduce 25% tariff on cars, medicines and chips
The Hyundai Logotype was shown at the New York International Auto Show at Jacob K. Javits Congress Center in New York on March 28, 2018. (Drew Angerer/Getty Images)
The company has a new plant for electric vehicles in Peach.
“This includes the place of the Hyundai Motor Group Metaplatant American (HMGMA) in Bryan County, Georgia, the biggest economic development project in Georgia history, which will have a capacity to produce 300,000 vehicles for the US market annually. We carefully monitor the new US policy.
Hyundai also had a production facility in Alabama for years.
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Hyundai Motor Company President and CEO José Muñoz pointed to “localization” as key for tariffs during the weather.
“So the best way to move in tariffs is an increase in localization,” Muñoz noted, Axios reported last month.
He said in the recent LinkedIn post, “Hyundai Motor Company (현대자동차) and our home company Hyundai Motor Group invest $ billion in America and create tens of thousands of US high -payment jobs.”
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“Through the growing American production imprint, HMG produced more than 700,000 vehicles in America last year. We are proud of our commitment to American production, design, engineering and gathering in America to support the American economy,” he noticed.
