Trump says U.S. could unveil semiconductor tariffs next week
U.S. President Donald Trump said Friday his administration will unveil tariffs on semiconductor imports as early as next week, as South Korean tech firms Samsung Electronics Co. and SK hynix Inc. have been carefully watching his tariff policy developments, Yonhap reports.
Trump made the remarks in a meeting with reporters aboard Air Force One, as he was en route to Alaska for talks with Russian President Vladimir Putin.
"Chips and semiconductors, we'll be setting sometime next week, (or) the week after," Trump said, according to a White House press pool report.
He did not elaborate on the exact tariff rate, but said there would be a tariff increase from a "lower" rate to a "very high" rate.
"Well, I'm going to have a rate that is going to be lower at the beginning. Then that gives them a chance to come in and build. And very high after a certain period of time," he said.
"And if they don't build here, they have to pay a very high tariff."
Last week, Trump said his administration will impose a tariff of about 100 percent on chips, as he is pushing to strengthen semiconductor production in the U.S.
To impose the tariffs, Trump has invoked Section 232 of the Trade Expansion Act of 1962, a law that provides the president with the authority to adjust imports into the U.S. when he determines they threaten to impair national security.
Recall that President Lee Jae Myung and U.S. President Donald Trump will hold their first summit in Washington on Aug. 25 to discuss ways to bolster the two nations' alliance and cooperation in advanced industries, the presidential office said Tuesday.
