Trump Announces 100 Percent Tariff on Semiconductors

Washington: U.S. President Donald Trump declared that his administration will impose a tariff of about 100 percent on semiconductors, a decision set to affect South Korea's chip industry significantly. Trump announced the plan during a White House event while unveiling an investment initiative by Apple Inc., noting that major South Korean technology companies such as Samsung Electronics Co. and SK hynix Inc. have been closely monitoring the situation.According to Yonhap News Agency, Trump stated, "We'll be putting a tariff on of approximately 100 percent on chips and semiconductors," adding that there would be no charge for those manufacturing within the United States. This move has been made possible through Section 232 of the Trade Expansion Act of 1962, which grants the president the power to adjust imports that are seen as a threat to national security.