Hyundai Steel Company announced March 24 that it would build a new $5.8 billion electric arc furnace steel mill in Louisiana to supply steel for Hyundai Motor Group. The latest announcement follows a previous Hyundai announcement it would invest a total of $21 billion in the United States on unspecified projects.

Hyundai Motor Group has announced plans to invest $5.8 billion in a new Hyundai Steel Co. manufacturing facility in Donaldsonville, La. This is the automaker’s first North American steel facility.

Trump touted Hyundai's $5.8 billion in its first U.S. steel mill in Louisiana was a result of threatened tariffs on overseas manufacturing.