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🇰🇷 South Korea /Technology

South Korea says US semiconductor tariffs are still undecided

From Hankyoreh · () Korean

Translated from Korean and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement Ongoing story
  • South Korea’s presidential office said details of possible new US semiconductor tariffs had not yet been finalized.
  • The government said it would closely monitor developments and consult Washington to limit harm to South Korean companies.
  • US Commerce Secretary Howard Lutnick said the tariffs would be targeted and offered potential reductions for companies that build manufacturing facilities in the United States.

South Korea’s presidential office said proposed new US tariffs on semiconductors have not yet been finalized.

The specific details have not yet been finalized, as we understand it.

— South Korean presidential office officialThe office responded to reports that Washington was considering new semiconductor tariffs.

The office issued the statement on Sept. 3 after US Commerce Secretary Howard Lutnick told the media that the US government was considering new semiconductor tariffs. A presidential office official said the government would closely monitor developments and consult the United States to prevent unfavorable effects on South Korean companies.

Targeted and thoughtful tariff policy

— Howard LutnickThe US commerce secretary described the expected approach to future semiconductor tariffs.

Lutnick said in a CNBC interview on Sept. 2 that future semiconductor tariffs would follow a “targeted and thoughtful tariff policy.” He said companies that build manufacturing facilities in the United States would receive tariff reductions, while those that do not would have to pay tariffs to enter the world’s largest market.

If you build a manufacturing facility in the United States, we will give you tariff relief, and if you do not, you will have to pay tariffs to enter the largest market in the world.

— Howard LutnickLutnick outlined the proposed incentive for semiconductor manufacturing in the United States.
About this summary

Originally published by Hankyoreh in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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