South Korea Warns US Chip Tariffs Could Disrupt Global Semiconductor Trade
South Korean officials are urgently negotiating to prevent planned US semiconductor tariffs set for August 1, fearing severe consequences for major exporters like Samsung and SK Hynix. Trade Minister Yeo Han-koo emphasized the need for any US agreement to address chip levies, noting consultations with ministries, industry stakeholders, and lawmakers are underway to craft a comprehensive proposal.
The potential 25% tariffs threaten to destabilize global supply chains, with Seoul simultaneously pursuing sectoral reductions on autos and steel. Yeo's recent meetings with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick focused on extending the tariff freeze deadline and establishing a manufacturing partnership between the allies.
