Washington: U.S. President Donald Trump revealed that his administration might introduce tariffs on semiconductor imports as early as next week. This potential move has caught the attention of major South Korean tech companies like Samsung Electronics Co. and SK hynix Inc., which are closely monitoring the evolving tariff policies.
According to Yonhap News Agency, Trump made these remarks during a conversation with reporters aboard Air Force One, as he traveled to Alaska for a meeting with Russian President Vladimir Putin. The meeting aims to negotiate a ceasefire in Ukraine. Trump mentioned, "Chips and semiconductors, we'll be setting sometime next week, (or) the week after," as reported by The Wall Street Journal. However, he did not provide specific details about the proposed tariff rate.
Last week, Trump indicated that his administration plans to impose a tariff of approximately 100 percent on semiconductor imports. This initiative is part of his strategy to bolster semiconductor production within the United States. To implement these tariffs, Trump is invoking Section 232 of the Trade Expansion Act of 1962. This law grants the president the power to adjust imports that pose a potential threat to national security.