Lutnick Warns Some Korean, Taiwanese Firms May Face 100% Chip Tariffs Unless They Invest in US

Commerce Secretary Howard Lutnick said South Korean memory chipmakers and Taiwanese companies that aren’t investing in the US may face up to 100% tariffs unless they commit to increased production on American soil, as the Trump administration ramps up calls for additional foreign investment.

Following a groundbreaking ceremony for a new Micron Technology Inc. plant outside Syracuse, New York, Lutnick said that potential levies spelled out under a trade accord with Taiwan could also affect chipmakers from South Korea.