South Korea to Negotiate Favorable Terms for U.S. Chip Tariffs
SEOUL: South Korea is poised to advocate for advantageous terms regarding U.S. tariffs on memory chip imports, according to a spokesperson from the presidential office during a televised briefing on Sunday.
– Last year, South Korea announced a joint fact sheet detailing its trade agreement with the U.S., which included provisions to prevent the country from facing unfavorable treatment compared to its primary competitors in relation to U.S. tariffs on imported chips.
– This discussion arises amidst concerns surrounding the Trump administration’s proclamation on imposing tariffs on artificial intelligence chips.
– On Saturday, South Korea’s trade minister indicated that U.S. tariffs on certain advanced computing chips will likely have minimal repercussions for South Korean companies.
– Notably, South Korea’s Samsung Electronics and SK Hynix rank among the world’s largest producers of memory chips.
As South Korea navigates these talks, the focus remains on securing a fair playing field, ensuring that its leading tech companies continue to thrive in the global market. The outcome of these negotiations could significantly impact both South Korea’s economy and its vital role in the semiconductor industry.