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Commerce Secretary Howard Lutnick has warned that memory chipmakers, including those from South Korea and Taiwan, could face 100% tariffs on their imports unless they boost their manufacturing capabilities in the U.S.
“Everyone who wants to build memory has two choices: they can pay a 100% tariff, or they can build in America,” Lutnick said on Friday at a ceremony held to begin the construction of a $100B manufacturing site being built by Micron Technology (MU).
He added that potential tariffs specified under a new trade deal with Taiwan could also apply to South Korean chipmakers. “That’s industrial policy,” Lutnick said, without naming any companies, according to a Bloomberg report on his comments.
Lutnick made similar remarks after the Department of Commerce announced a new trade agreement with Taiwan, granting Taiwanese firms committed to new chip production sites in the U.S. a quota-based tariff relief based on their investments.
“If they don’t build in America,” Lutnick said in an interview with CNBC, adding, “the tariff is likely to be 100%.”
