Asian automaker shares slide after Trump announces new tariffs

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Open this photo in gallery: Euisun Chung, executive chairman of Hyundai Motor Group, speaks during the grand opening of the Hyundai plant on March 26 in Ellabell, Ga.Corey Perrine/The Associated Press It was supposed to be a triumphant moment for Hyundai. On Wednesday, the South Korean automaker opened a new production base in the United States, part of a US$21-billion investment announced at the White House earlier this week. Hyundai executives were hopeful the new Georgia plant, along with a steel factory in Louisiana and other investments, would enable the automaker to avoid U.S. tariffs and continue selling to one...