Car Maker Invests Big & Snow White Bombs | 3.25.25
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How is foreign investment impacting the U.S. economy?
Another foreign company makes a massive investment in the U.S., bringing manufacturing and jobs back to the states.
With this, our U.S. vehicle production will exceed 1 million units per year. How have Trump's tariffs played into these decisions?
I'm Georgia Howe with Daily Wire Editor-in-Chief John Bickley. It's Tuesday, March 25th, and this is Morning Wire.
The White House and Congress ramp up pressure on a judge standing between the Trump administration and its deportation agenda.
He's the judge who was part of the whole Trump-Russia FISA court, granting those warrants that allowed the Comey FBI to spy on President Trump's campaign.
And audiences across the country are disenchanted by Disney's live-action Snow White as the remake bombs at the box office.
Disney shareholders ought to be infuriated and demanding answers on where nearly $400 million of capital went for Snow White.
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What role do tariffs play in U.S. manufacturing strategies?
South Korean car manufacturer Hyundai announced Monday that they'd be investing more than $20 billion in the U.S. to build new steel and auto plants.
Daily Wire senior editor Cabot Phillips is here with the details. So Cabot, a story that's become a little bit routine recently. Foreign companies investing in the United States. What's the latest?
Yeah, Hyundai joining the long list of companies pouring billions of dollars into American manufacturing, otherwise known as onshoring. On Monday, the South Korean auto giant announced a nearly $21 billion investment in the U.S., For context, that is equal to the total amount they've invested here since 1986. As part of that effort, they'll be building a $6 billion steel plant in Louisiana. That'll employ more than 1,400 Americans. The company currently has two major auto plants on American soil. Now it will be three. They're opening a third in Georgia, which will create another 8,000 jobs. Hyundai's executive chair, Yu-Sung Chung, appeared alongside President Trump at the White House Monday to break the news.
With your leadership, Mr. President, Hyundai Motor Group is proud to be a stronger partner in America's industrial future.
As we've discussed, President Trump has already implemented 25% tariffs on steel and aluminum imports, and additional levies are coming on Asian auto imports. So Hyundai is certainly looking to save money. As Hyundai Motor CEO Jose Munoz put it, the best way for Hyundai to navigate tariffs is to increase localization, aka manufacturing cars here in America. For his part, President Trump has argued all along that his tariffs were intended to pressure foreign businesses to do just that. Here he is yesterday.
This investment is a clear demonstration that tariffs very strongly work, and I hope other things also, but the tariffs are bringing them in at levels that have not been witnessed.
Last month, Apple announced it was pouring $500 billion into new American manufacturing projects. Before that, Japan's SoftBank announced $100 billion investment. Asian chip manufacturer Taiwan Semiconductor is pouring $100 billion of their own to build high-tech chips in America. United Arab Emirates announced a 10-year, $1.4 trillion investment. The list goes on and on. Again, that's all in the last three months. According to the president, there have been up to $4 trillion worth of new investments in the U.S. since Inauguration Day. Here he is to that point during a cabinet meeting yesterday.
Many companies are now moving into the United States. We have probably identified maybe $4 trillion worth of companies moving back or going to move back. Remember, there are no tariffs if you build here, and that's a big factor.
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