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Trump to Hit Semiconductor Imports with Tariffs Unless Firms Build in U.S.

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President Donald Trump announced Thursday that his administration will impose tariffs on semiconductor imports from companies that do not move production to the United States. Speaking ahead of a dinner with top tech CEOs, Trump said the tariffs would be “fairly substantial” but would not apply to companies already investing in U.S. manufacturing.

Trump framed the move as part of his broader strategy of using tariffs to pressure foreign companies and governments to shift production and jobs into the U.S. “If they are not coming in, there is a tariff,” he said. He singled out Apple CEO Tim Cook, noting that Apple’s $600 billion commitment to domestic investment puts it “in pretty good shape.”

The policy comes as global chipmakers respond to U.S. pressure. Taiwan’s TSMC, South Korea’s Samsung, and SK Hynix have all announced major U.S. semiconductor plant investments. Trump had previously floated a 100% tariff on imported chips but said exemptions would apply for companies producing or planning facilities inside the country.

The announcement underscores Trump’s second-term emphasis on tariffs as a cornerstone of economic and foreign policy, a tool he has wielded to renegotiate trade terms and gain leverage in geopolitical disputes. However, legal challenges loom: lower courts have invalidated parts of his earlier tariff regime, and the administration has asked the Supreme Court to uphold the sweeping emergency powers used to justify them.

South Korea’s Samsung and SK Hynix Exempt from 100% U.S. Chip Tariffs

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South Korea’s top trade official, Yeo Han-koo, announced that Samsung Electronics and SK Hynix will not face the proposed 100% U.S. tariffs on semiconductor imports, benefiting from favorable tariff terms under a trade agreement between the U.S. and South Korea.

This comes after U.S. President Donald Trump indicated plans to impose steep tariffs on semiconductor imports from countries without U.S.-based production commitments. However, companies with active or planned manufacturing facilities in the U.S. would be exempt.

Samsung has invested in two chip fabrication plants in Texas, located in Austin and Taylor, while SK Hynix plans to build an advanced chip packaging and AI R&D facility in Indiana. Analysts suggest that Samsung’s broader U.S. investments and its inclusion in Apple’s supply chain give it a stronger exemption position compared to SK Hynix, whose packaging plant alone might not fully qualify for tariff relief.

Apple recently confirmed that Samsung’s Texas plant will supply chips for its iPhones and other products, further strengthening Samsung’s U.S. manufacturing footprint. Following these developments, Samsung’s shares rose 2.6%, while SK Hynix’s shares gained 0.6%, mirroring broader market trends.

Neither company commented on the tariff discussion.

Samsung Profit Plunges 56% Amid AI Chip Woes, U.S. Export Curbs to China

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Samsung Electronics reported a steep 56% year-on-year drop in Q2 operating profit, projecting earnings of 4.6 trillion won ($3.36 billion)—significantly below analyst expectations of 6.2 trillion won, according to LSEG SmartEstimate. This marks Samsung’s weakest quarterly performance in six quarters, as its semiconductor division continues to struggle with shifting global dynamics in the AI chip market.

The South Korean tech giant blamed its sharp decline on U.S. restrictions on AI chip exports to China, which have disrupted its sales pipeline. However, analysts pointed to delays in delivering high-bandwidth memory (HBM) chips to Nvidia as a major factor in its underperformance. Unlike rivals SK Hynix and Micron, which have seen strong AI-driven chip demand, Samsung has been slower to supply its latest HBM3E 12-layer chips, with customer evaluations still ongoing and no specific update on Nvidia shipments.

“Everything ultimately comes back to HBM,” said Ryu Young-ho, an analyst at NH Investment & Securities, noting that Samsung’s competitive edge hinges on reclaiming leadership in the HBM segment.

Revenue for the quarter is expected to come in nearly flat at 74 trillion won, down just 0.1% from a year ago. But the semiconductor division likely took the hardest hit, with analysts estimating its operating profit may have dropped over 90% to just 500 billion won, partly due to inventory value adjustments and unsold HBM stockpiles.

Adding to the challenges, potential U.S. tariffs and mounting competition in China—where Samsung still has a heavy market presence—are expected to weigh on both its chip and smartphone margins in the near term.

Samsung’s foundry business also saw falling earnings, attributed to low utilisation rates and inventory write-downs, stemming from the same U.S. AI chip export restrictions. However, the company expects foundry performance to gradually improve in the second half of 2025 as utilisation recovers with demand.

Despite the weak outlook, Samsung announced a 3.9 trillion won ($2.85 billion) share buyback, part of a broader 10 trillion won repurchase plan unveiled in late 2024. Investors remained cautious, with Samsung shares slipping 0.2%, while Korea’s benchmark KOSPI index rose 1.2% during morning trading.

Looking ahead, Samsung hopes to recover with upcoming phone launches and by expanding HBM sales beyond Nvidia to other customers. A full breakdown of business unit performance is expected on July 31, when the company releases its detailed Q2 earnings report.