Breaking
"Next is Semiconductor and Pharmaceuticals Tariff"...U.S. Investigates Import Impact on Security
Summary
- The U.S. government announced that it has initiated an investigation to review the necessity of restricting imports of semiconductors and pharmaceuticals.
- This investigation is based on Section 232 of the Trade Expansion Act, which grants the president the authority to take appropriate measures such as tariffs if the import of specific items threatens national security.
- President Donald Trump has indicated that he would impose tariffs on these items to encourage domestic production.
The U.S. government has initiated an investigation to determine whether it is necessary to restrict the import of semiconductors and pharmaceuticals.
The U.S. Department of Commerce announced on the 14th (local time) in the Federal Register that it has begun an investigation to assess the impact of imports of semiconductors, semiconductor manufacturing equipment, and derivatives on national security.
This investigation is based on Section 232 of the Trade Expansion Act, which grants the president the authority to restrict imports through appropriate measures such as tariffs if it is determined that the import of specific items threatens national security.
The Department of Commerce also announced in the Federal Register that it has initiated an investigation into pharmaceuticals and their ingredients.
President Donald Trump has previously indicated that he would impose tariffs to encourage domestic production, stating that semiconductors and pharmaceuticals are important to national security.
Since taking office, President Trump has imposed a 25% tariff on steel, aluminum, automobiles, and auto parts based on Section 232 of the Trade Expansion Act.
Reporter Ji Soo-hee shji6027@wowtv.co.kr
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
