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The mourners had gathered in the small village of Vero, a half-hour drive from Ajaccio, the capital of the picture-postcard Mediterranean island of Corsica. In their midst was former nationalist leader Alain Orsoni, 71, who had flown in from exile in Nicaragua to bury his mother. Suddenly
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US Commerce Secretary 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 ground breaking ceremony for a new Micron Technology 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.
“Everyone who wants to build memory has two choices: They can pay a 100% tariff, or they can build in America,” Lutnick said Friday in response to a reporter's question, without naming any particular companies. “That's industrial policy.”
Lutnick's comments echoed a warning Thursday following the signing of the Taiwan trade deal, which grants quota-based tariff relief to companies committing to investing in US-based manufacturing. “If they don't build in America,” Lutnick told CNBC, “the tariff is likely to be 100%.”
For now, President Donald Trump is holding off on tariffs on most foreign-made semiconductors, instead asking Lutnick and US Trade Representative Jamieson Greer to negotiate with trading partners on reducing American reliance on chip imports. Trump may announce new tariffs and an accompanying offset program to incentivize domestic manufacturing “in the near future,” the White House said earlier this week.
Micron competes with South Korea-based Samsung Electronics and SK Hynix in the market for high-bandwidth memory chips — a crucial component in the data centre processors powering the artificial intelligence boom. Demand for the components has skyrocketed due to AI data centre needs, and the three companies have warned in recent months of limited supply.
In response to a request for comment, a Commerce Department spokesperson said, “Secretary Lutnick is committed to restoring American manufacturing dominance and that starts with semiconductors.” Spokespeople for Samsung, SK Hynix and the Taiwanese representative's office in Washington didn't immediately respond to requests for comment.
The Taiwan trade deal unveiled Thursday allows Taiwanese companies building new US operations to import 2.5 times their current capacity tariff-free during construction, with a lower rate applied to shipments above that quota. That cap would fall to 1.5 times current capacity once production facilities are complete.
As part of the agreement, which sets tariffs on goods from the self-governed island at 15%, Taiwan's tech industry would commit to at least $250 billion in direct investments in the US. Taiwan Semiconductor Manufacturing would build at least four more chipmaking plants in the US — on top of six already planned — requiring roughly an additional $100 billion of capital, according to people familiar with the matter.
Under an accord with South Korea announced in July, the US would charge a tariff of 15% on most goods from the country, while sparing for now imports of chips. The agreement between Washington and Seoul includes a $350 billion South Korean fund for US investments, yet those plans are still taking shape and it's unclear how much more Samsung and SK Hynix will agree to spend in the US beyond their earlier commitments.
Samsung unveiled plans in 2024 to invest more than $40 billion in the US, including $17 billion for an advanced packaging facility in Texas for high-bandwidth memory chips. SK Hynix, meanwhile, has said it intends to spend nearly $4 billion on advanced packaging in Indiana, part of $15 billion for production and research in the US.
Micron promised last year to invest as much as $200 billion in the US, including $150 billion for domestic manufacturing and another $50 billion for research and development. Announced more than three years ago, the facility in Clay, New York, represents the biggest US investment for the Boise, Idaho-based company, which currently makes most of its chips at facilities in Asia.
Shares of Micron rallied 7.8% Friday in regular New York trading, leaving it up 27% this month, and adding to a 239% surge in 2025.
In addition to Lutnick, the ground breaking was attended by Micron Chief Executive Officer Sanjay Mehrotra, New York Governor Kathy Hochul and US Senate Democratic Leader Chuck Schumer, who braved bitter winter temperatures for the event. The complex represents the largest private investment in New York state history, and Micron says it would eventually feature four chip fabrication plants and generate 50,000 new jobs.
Source: EconomicTimes
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