SEOUL, Jan. 15 (Yonhap) — The government convened an emergency meeting Thursday to assess the impact of Washington’s plan to impose 25 percent tariffs on certain semiconductor imports, focusing on response strategies for South Korean chipmakers, according to officials.
The meeting, chaired by Industry Minister Kim Jung-kwan, took place just hours after U.S. President Donald Trump’s administration issued a proclamation outlining a plan to apply a 25 percent tariff on certain AI chips, which are imported into the U.S. and then reexported to other countries.
The proclamation said the levy does not apply to chips for use in U.S. data centers or for non-data center consumer applications in the U.S. Washington also issued a proclamation on adjusting imports of processed critical minerals and their derivative products.
The Ministry of Trade, Industry and Resources said it will put in “all-out” efforts to minimize the impact of the latest U.S. move on Korea while maintaining communication with affected industries.
Trade Minister Yeo Han-koo, who had been set to return home after a weeklong trip to the U.S., has decided to extend his stay to examine potential domestic ramifications from the U.S. proclamations.
Separately, Vice Trade Minister Park Jung-sung, currently in Korea, was scheduled to hold phone talks with U.S. Under Secretary of Commerce for Industry and Security Jeffrey Kessler to address Korea’s concerns, according to the ministry.
The ministry also plans to collect opinions from domestic semiconductor and critical mineral industries later in the day.
Under the bilateral tariff deal reached last year, the U.S. agreed to offer Korea semiconductor tariff rates that are “no less favorable” than those applied to its direct competitors.
This illustrated image highlights U.S. President Donald Trump’s tariff scheme. (Yonhap)