South Korea says Samsung, SK Hynix will not be subject to 100% US chip tariffs
Yeo said on radio that among various countries, South Korea will face the most favourable US tariff rates on chips under the trade deal between Washington and Seoul.
He did not elaborate.
US President Donald Trump said on Wednesday the United States will impose a tariff of about 100 per cent on semiconductors imported from countries not producing in the US or planning to do so. But it would not apply to companies that had made a commitment to manufacture in the US or were in the process of doing so.
Trump's comments were not a formal announcement and much remains unclear.
Samsung has invested in two chip fabrication plants in Austin and Taylor, Texas, while SK Hynix has announced plans to build an advanced chip packaging plant and research and development facility for artificial intelligence products in Indiana.
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'While both Samsung and SK Hynix have made US investments, there are doubts about whether SK Hynix's packaging plant alone would fully qualify for tariff exemptions,' said Baik Gil Hyun, an analyst at Yuanta Securities.
'Samsung, on the other hand, appears to be benefiting not only from that but also from news that it has joined Apple's supply chain.'
Apple said on Wednesday that Samsung Electronics will supply chips from its production plant in Texas for Apple products including iPhones.
Shares in Samsung Electronics climbed 2.6 per cent while shares in SK Hynix were trading up 0.6 per cent in line with the broader market.
Both companies declined to comment on Trump's remarks. REUTERS
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Straits Times
an hour ago
- Straits Times
After almost losing Trump, Putin gets his ideal summit
Sign up now: Get ST's newsletters delivered to your inbox Few analysts believe the Russian leader will be content to stop the war based on a real estate negotiation alone. – In late July 2025, President Vladimir Putin of Russia was facing a stark reality: He was on the verge of losing President Donald Trump, the one Western leader possibly willing to help him get his way in Ukraine and achieve his long-held goal of rupturing the European security order. After months of trying to get Mr Putin to end the war, MrTrump had grown tired of ineffectual phone calls and talks and had begun issuing ultimatums. Even worse for Mr Putin, Mr Trump appeared to have patched up his relationship with President Volodymyr Zelenskyy of Ukraine, despite an Oval Office blow-up earlier in 2025 , that delighted Moscow. It was not clear that Mr Trump would be able or willing to follow through on the threats he had made to put punishing tariffs on nations buying Russian oil , or what real impact such moves would have on Moscow. But Mr Trump's deadline for Mr Putin to end the war was swiftly approaching, presaging some sort of further rift between the White House and the Kremlin. So Mr Putin shifted tack ever so slightly. Despite previous refusals by Russian officials to negotiate over territory in the Russia-Ukraine war, the Russian leader, during a meeting at the Kremlin last week, left Mr Trump's special envoy, Mr Steve Witkoff, with the impression that Russia was now willing to engage in some deal-making on the question of land. 'We're going to get some back and we're going to get some switched,' Mr Trump said on Aug 8. 'There'll be some swopping of territories to the betterment of both.' 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The White House proceeded anyway. Few analysts believe the Russian leader will be content to stop the war based on a real estate negotiation alone. Mr Putin has made it clear that, among other things, he wants a formal promise that Ukraine will not enter Nato or any other Western military alliances, host Western troops on its territory or be allowed to build up a military that threatens Russia – making Ukraine perpetually vulnerable. 'The fundamental thing for Russia is domination,' Dr Greene said. Mr Alexander Gabuev, director of the Carnegie Russia Eurasia Center in Berlin, said Mr Putin would come into the summit on Aug 15 in Alaska pursuing various scenarios. They include a favourable deal with Mr Trump that the US President successfully forces upon Ukraine or a favourable deal with Mr Trump that Mr Zelensky refuses, causing the United States to walk away from Ukraine, Mr Gabuev said. The third option, he noted, is that the Russian leader continues his current path for another 12 to 18 months, with the expectation that Ukraine will run out of soldiers faster than the Russian war economy runs out of steam. Mr Putin understands that Mr Trump is willing to offer things few other American leaders would ever consider, which could help Russia fracture Ukraine and divide the Western alliance. 'If you could get Trump to recognise Russia's claim to the lion's share of the territory that it has taken, understanding that the Ukrainians and the Europeans might not come along for the ride on that, you drive a long-term wedge between the US and Europe,' Dr Greene said. But despite wanting those things, Mr Putin will not stop the war for them, if getting them means agreeing to a sovereign Ukraine with a strong military, aligned with the West, that is able to make its own arms, Mr Gabuev said. 'Trump is a big opportunity for him,' Mr Gabuev said. 'I think that he understands that. 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AsiaOne
2 hours ago
- AsiaOne
Thousands rally in Tel Aviv against Netanyahu's new Gaza plan, demand release of hostages, World News
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AsiaOne
3 hours ago
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Newsom calls Trump's $1.2b UCLA settlement offer extortion, says California won't bow, World News
WASHINGTON - California Governor Gavin Newsom said on Saturday (Aug 9) that a US$1 billion (S$1.2 billion) settlement offer by President Donald Trump's administration for UCLA amounted to political extortion to which the state will not bow. Why it's important The University of California says it is reviewing a US$1 billion settlement offer by the Trump administration for UCLA after the government froze hundreds of millions of dollars in funding over pro-Palestinian protests. UCLA, which is part of the University of California system, said this week the government froze US$584 million in funding. Trump has threatened to cut federal funds for universities over pro-Palestinian student protests against US ally Israel's military assault on Gaza. Key quotes "Donald Trump has weaponised the DOJ (Department of Justice) to kneecap America's #1 public university system - freezing medical & science funding until @UCLA pays his US$1 billion ransom," the office of Newsom, a Democrat, said in a post. "California won't bow to Trump's disgusting political extortion," it added. "This isn't about protecting Jewish students - it's a billion-dollar political shakedown from the pay-to-play president." Context The government alleges universities, including UCLA, allowed antisemitism during the protests and in doing so violated Jewish and Israeli students' civil rights. The White House had no immediate comment beyond the offer. Protesters, including some Jewish groups, say the government wrongly equates their criticism of Israel's war in Gaza and its occupation of Palestinian territories with antisemitism, and their advocacy for Palestinian rights with support for extremism. Experts have raised free speech and academic freedom concerns over the Republican president's threats. The University of California says paying such a large settlement would "completely devastate" the institution. UCLA protests and environment Large demonstrations took place at UCLA last year. Last week, UCLA agreed to pay over US$6 million to settle a lawsuit by some students and a professor who alleged antisemitism. It was also sued this year over a 2024 violent mob attack on pro-Palestinian protesters. Rights advocates have noted a rise in antisemitism, anti-Arab bias and Islamophobia due to conflict in the Middle East. The Trump administration has not announced equivalent probes into Islamophobia. Recent settlements The government has settled its probes with Columbia University, which agreed to pay over US$220 million, and Brown University, which said it will pay US$50 million. Both accepted certain government demands. Settlement talks with Harvard University are ongoing. [[nid:721152]]
