Presidential office says semiconductor tariffs part of deal with US
Kim Yong-beom, right, the presidential chief of staff for policy, alongside National Security Adviser Wi Sung-lac, speaks during a press briefing at the International Media Center for the Asia-Pacific Economic Cooperation gathering in the southeastern city of Gyeongju, North Gyeongsang Province, Wednesday. Yonhap
The presidential office said Thursday semiconductor tariffs were part of a finalized trade deal with the United States, dismissing remarks by U.S. Commerce Secretary Howard Lutnick that chip tariffs were not a part of the agreement.
Presidential spokesperson Kim Nam-jun said that Seoul and Washington clinched an agreement on tariff levels for Korean semiconductors, although Lutnick said in a social media post that semiconductor tariffs were not part of a trade deal.
"Regarding semiconductors, the two nations agreed to apply tariffs at levels not less favorable than those applied to Taiwan," Kim said. "The outcome of the negotiations can be seen as having secured an equal footing with Taiwan, a major competitor in the semiconductor sector, and reduced uncertainties."
Kim added that the agreement on the U.S. semiconductor tariffs will be reflected in related documents, which are currently under final review.
In August, U.S. President Donald Trump announced plans to impose a tariff of about 100 percent on imports of semiconductors, but the measure has not yet been implemented.
In regard to Lutnick's separate claim that Seoul had agreed to "fully open its market 100 percent," Kim said the Korean market is "already open to all U.S. products."
"There are no additional changes (on the market access) through this agreement," Kim said.
On Wednesday, Seoul and Washington finalized the agreement on the details of Korea's $350 billion investment pledge and concluded a trade deal that will lower U.S. tariffs on Korean goods and autos from 25 percent to 15 percent.
Kim Yong-beom, the presidential chief of staff for policy, said Seoul "defended" against the U.S. demand for the further opening of its agricultural market, citing politically sensitive items, such as beef and rice.