US Commerce Secretary warns some Korean, Taiwanese firms may face 100% chip tariffs unless they invest in US

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Commerce Secretary Howard Lutnick said South Korean memory chipmakers and Taiwanese companies that aren’t investing in the US may face up to 100% tariffs unless they commit to increased production on American soil, as the Trump administration ramps up calls for additional foreign investment.

Following a ground breaking ceremony for a new Micron Technology plant outside Syracuse, New York, Lutnick said that potential levies spelled out under a trade accord with Taiwan could also affect chipmakers from South Korea.

“Everyone who wants to build memory…



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US Commerce Secretary warns some Korean, Taiwanese firms may face 100% chip tariffs unless they invest in US



Commerce Secretary Howard Lutnick said South Korean memory chipmakers and Taiwanese companies that aren’t investing in the US may face up to 100% tariffs unless they commit to increased production on American soil, as the Trump administration ramps up calls for additional foreign investment.

Following a ground breaking ceremony for a new Micron Technology plant outside Syracuse, New York, Lutnick said that potential levies spelled out under a trade accord with Taiwan could also affect chipmakers from South Korea.

“Everyone who wants to build memory…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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