Commerce Secretary Howard Lutnick has announced that South Korean memory chipmakers and Taiwanese technology companies that currently do not invest in the United States may face significant tariffs. The threat involves potential tariffs of up to 100% on their imports if they do not commit to expanding production within the US.
The statement signals a shift in US trade policy aimed at encouraging foreign firms in critical technology sectors to establish or boost manufacturing operations domestically. Officials argue that increasing local production could bolster national security and economic resilience amidst global supply chain challenges.
Lutnick emphasized that the US government is willing to impose these tariffs as leverage to promote investment in American manufacturing infrastructure. The move is part of broader efforts to strengthen the domestic semiconductor industry, which has faced increased geopolitical tensions and supply chain disruptions.
Industry representatives have expressed concern over the potential for retaliatory trade measures and the impact on global supply chains. The companies affected are expected to evaluate their investment strategies and consider whether to accelerate their US manufacturing plans to avoid tariffs. The US government has yet to specify the exact timeline for implementing such tariffs or the detailed criteria for compliance.