사진 확대
Howard Lutnick, secretary of the United States Department of Commerce, cited Taiwan’s investment plans in the United States and mentioned “targeted tariffs” on semiconductors on the 2nd (local time). Analysts say the remarks were intended to pressure South Korea to invest. They also reportedly reflected the fact that although South Korea has pledged $350 billion in investment in the United States, it has yet to announce its first investment plan.
In an interview with CNBC that day, Lutnick said, “An agreement was also reached in the (trade) deal with Taiwan.” He claimed, “Under the agreement I led, Taiwan agreed to move 40% of its domestic semiconductor production to the United States, and it is currently fulfilling that commitment.”
Lutnick went on to emphasize, “Taiwan will probably announce an additional investment plan worth $20 billion to $30 billion next week.”
The Donald Trump administration has strongly criticized semiconductor production subsidies introduced by the previous Joseph Robinette Biden Jr. administration and warned of tariffs on semiconductors since taking office in January 2025. However, it has not proceeded with comprehensive tariffs.
This is understood to be because concerns have gained traction that imposing semiconductor tariffs could undermine U.S. competitiveness as the country competes with China for dominance in artificial intelligence (AI).
Politico reported that officials from the United States Department of Commerce are also considering a plan to apply tariffs more broadly to finished products containing semiconductors, in an effort to encourage semiconductor manufacturers to expand production in the United States. Domestic semiconductor companies, including Samsung Electronics and SK hynix, are expressing reluctance in response to continued U.S. pressure to invest. They cannot invest blindly while the direction of the tariff policy remains undecided.
◆ Samsung Electronics and SK hynix Face Tariff Uncertainty
Lutnick explained that if tariffs on semiconductors are introduced, they would take a form similar to the tariffs currently imposed by the U.S. government on pharmaceuticals. In the pharmaceutical sector, the government has adopted a carrot-and-stick strategy: it sets tariffs of up to 100%, while granting tariff-free treatment to companies that expand production or make new investments in the United States.
The scope of tariff-free treatment granted upon the announcement of new investments is expected to resemble the semiconductor agreement reached between the United States and Taiwan earlier this year. Under the arrangement, new investments would allow tariff-free imports equivalent to 2.5 times production volume, while completed existing investments would allow tariff-free imports equivalent to 1.5 times production volume.
Samsung Electronics and SK hynix are building a fabrication plant in Taylor, Texas, and a packaging plant in Indiana, respectively. It also remains unclear whether the subsidies promised by the Biden administration for these investments will be paid and whether the projects will qualify for tariff exemptions.
◆ Uncertainty Also Surrounds Finished Products Containing Semiconductors
Another issue is that semiconductors are rarely exported to the United States as standalone products. The impact on South Korea will vary depending on how the U.S. government imposes tariffs on finished products containing semiconductors. Memory semiconductors, which are currently seeing explosive demand in the United States, are exported from South Korea to Taiwan, incorporated into AI servers, or exported to Vietnam, installed in smartphones and other products, and then re-exported to the United States. In such cases, the impact on Korean companies could differ significantly depending on which country is deemed the exporter of the finished product.
The United States and South Korea agreed in a joint fact sheet last year to apply conditions to semiconductor trade that are “no less favorable than those accorded to countries whose semiconductor trade volume exceeds that of South Korea.” Taiwan is currently the only place exporting more semiconductors to the United States than South Korea. As a result, conditions no less favorable than those applied to Taiwan are highly likely to be reflected. A presidential office official said that day, “The government plans to closely consult with the U.S. side while carefully monitoring related developments to ensure that Korean companies are not adversely affected.”
Since there have been no concrete moves beyond Lutnick’s remarks, the comments are understood to signal an intention to act swiftly before the tariff policy is designed and implemented. Accordingly, Kim Jung-kwan, minister of the Ministry of Trade and Industry, who traveled to the United States to attend a G20 innovation ministers’ meeting, is expected to consult with Lutnick.
[Washington Correspondent Seung-jin Choi / Seoul Reporter Deok-ju Lee / Reporter Seung-hoon Sung]
This article has been translated by GripLabs Mingo AI.