South Korea’s President Lee Downplays US Chip Tariff Threats

South Korean President Lee Jae Myung downplayed US threats of punishing tariffs on foreign-made chips, while reaffirming his commitment to existing trade agreements.

“There is talk of a 100% tariff on semiconductors, but I’m not seriously concerned about that,” said Lee, 62, during a press conference in Seoul Wednesday. Rhetorical statements sometimes arise during negotiations, but it’s important to stay focused and adhere to established policies and principles. “Rough waves come, but they are not severe enough to damage the ship.”

Lee Jae Myung

Photographer: Tina Hsu/Bloomberg

The comments follow US Commerce Secretary Howard Lutnick’s warning earlier this month that South Korean ...