U.S. Secretary of Commerce: If South Korean companies do not increase investment in the U.S., they will face a 100% tariff on semiconductors.

US Secretary of Commerce Lutnick said on Friday that if South Korean memory chip manufacturers do not commit to increasing their investment in the United States, they may face tariffs as high as 100%. Lutnick said, "Every company that wants to do memory chip business in the United States has two choices: either pay 100% tariffs or invest in building facilities in the United States. This is industrial policy." He did not mention any specific company names. Currently, Trump has not imposed tariffs on most foreign-made semiconductor products, but has urged Lutnick and US Trade Representative Geller to negotiate with trade partners to reduce America's dependence on chip imports. The White House said earlier this week that Trump may announce new tariff measures and corresponding compensation plans in the "near future" to encourage the development of domestic manufacturing.