Trump says U.S. could unveil semiconductor tariffs next week

U.S. President Donald Trump said Friday his administration will unveil tariffs on semiconductor imports as early as next week.

U.S. President Donald Trump addresses the media in the James S. Brady Press Briefing Room of the White House in Washington on Aug. 11. [EPA/YONHAP]

U.S. President Donald Trump said Friday his administration will unveil tariffs on semiconductor imports as early as next week, as Korean tech firms Samsung Electronics and SK hynix have been carefully watching his tariff policy developments.

Trump made the remarks in a meeting with reporters aboard Air Force One, en route to Alaska for talks with Russian President Vladimir Putin — the high-stakes meeting where Trump is seeking to broker a halt to the war in Ukraine.

"Chips and semiconductors, we'll be setting sometime next week, [or] the week after," Trump said, according to a White House press pool report.

He did not elaborate on the exact tariff rate, but said there would be a tariff increase from "lower" to "very high."

"Well, I'm going to have a rate that is going to be lower at the beginning. Then that gives them a chance to come in and build. And very high after a certain period of time," he said.

"And if they don't build here, they have to pay a very high tariff."

Last week, Trump said his administration would impose a tariff of about 100 percent on chips, as he is pushing to strengthen semiconductor production in the U.S.

To impose the tariffs, Trump has invoked Section 232 of the Trade Expansion Act of 1962, a law that provides the president with the authority to adjust imports into the U.S. when he determines they threaten to impair national security.

Trump also mentioned on Friday that he would announce new tariffs on steel imports, following the United States' move to impose 50 percent duties on steel and aluminum imports since June 4.

That same day, the Trump administration added 407 product codes of imported goods to the U.S. Harmonized Tariff Schedule, significantly expanding the scope of its 50 percent tariffs on steel and aluminum imports.

BY SHIN HA-NEE, YONHAP [shin.hanee@joongang.co.kr]