South Korea Flags Concerns Over US Chip Levy Uncertainties

South Korea is deeply concerned about tariffs the US is likely to impose on semiconductors, with Trade Minister Yeo Han-koo warning Monday of the damage the duties would inflict on one of the nation’s key export sectors.

Speaking to local reporters, Yeo flagged the concerns over the sectoral duties likely to be imposed on chips, adding that the government is working urgently to minimize separate across-the-board tariffs scheduled to take effect on Aug. 1. Yeo indicated that any final deal needed to factor in the chip tariffs, too.