Shares of Hyundai Motor, Kia and other South Korean automakers fell in early trading on the 14th after U.S. President Donald Trump said Chinese automakers could build vehicles in the United States if they hired American workers. Hyundai Motor dropped 4.05% to 367,000 won by 9:42 a.m., while Kia fell 3.08% to 122,700 won, according to the Korea Exchange. Hyundai Motor Group affiliates also declined as the KOSPI fell more than 3%. Trump initially rejected reports that his administration was preparing a framework for Chinese automakers to enter the U.S. market, but later said he would accept Chinese companies opening plants in the country. He opposed vehicles being built in Mexico and shipped across the border. The comments came ahead of a planned meeting with Chinese President Xi Jinping on the 24th. Chinese-made vehicles face tariffs and Commerce Department connected-car rules that have largely excluded them from the U.S. market; Trump separately cited tariffs ranging from 100% to 150%, while existing market assessments put applicable tariffs as high as 127%. The remarks raised concerns for Hyundai and Kia, which have made major U.S. investments but could face stronger competition from Chinese manufacturers with lower prices and electric-vehicle and battery technology.