US Trade Rep: No Immediate Semiconductor Tariffs Coming
Quick Look
- Trade Representative Jamieson Greer stated that no immediate semiconductor tariffs are expected, emphasizing the need for proper timing and amount for protection measures.
- This comes amid concerns from South Korean firms like Samsung and SK hynix.
AI-generated summary
Why It Matters
U.S. Trade Representative Jamieson Greer made remarks about semiconductor tariffs at Micron Technology's plant expansion project. The U.S. has previously considered tariffs under Section 232 of the Trade Expansion Act of 1962.
By Song Sang-ho
WASHINGTON, May 22 (Yonhap) -- U.S. Trade Representative Jamieson Greer said Friday that there were no immediate semiconductor tariffs coming, according to a report, though he underscored the importance of protecting America's chip sector.
Greer made the remarks at Micron Technology's memory chip plant expansion project outside Washington, Reuters reported, apparently referring to sectoral duties on chip imports that might come after national security investigations under Section 232 of the Trade Expansion Act of 1962.
"So, having tariffs on semiconductors is really important. What's even more important than having protection for facilities like this, is making sure we do it on the right timing and in the right amount," Greer was quoted by Reuters as saying.
"There was not an immediate tariff coming," he added.
In August, Trump threatened to impose a tariff of about 100 percent on semiconductors, as South Korean tech firms Samsung Electronics Co. and SK hynix Inc., have been carefully watching his tariff policy developments.
In last year's joint fact sheet on trade and security agreements between Seoul and Washington, the U.S. agreed to offer semiconductor tariff rates that are "no less favorable" than terms that may be offered to a partner with chip trade volumes as large as South Korea's.
What to Watch
AI outlook — possibilities, not facts
The U.S. will continue to evaluate protection measures for its semiconductor sector.
Very likely · Medium term
Open Questions
- What specific timing and amount of protection measures are being considered for the U.S. chip sector?
- Will future investigations under Section 232 lead to tariffs?
- How will South Korean firms like Samsung and SK hynix be affected by future U.S. trade policies?
