Hyundai Motor has no plans to raise vehicle prices in the United States for now despite Washington's 25 percent duties on automobile imports under U.S. President Donald Trump's "America First" trade policy.

On March 24, Hyundai Motor Group Executive Chairman Euisun Chung stood alongside President Trump and other prominent politicians at the White House to announce that the automaker was making a total $21 billion investment that it will spend over the next four years to increase its annual production capacity to 1.2 million cars in the States.

Jose Munoz, co-CEO of Hyundai Motor, said on Thursday there were no plans to raise prices in the United States at this time in response to U.S. tariffs. "We have seen the tariff announcement and we are evaluating the impact,