US tariffs: South Korea to devise support measures for chip industry IANS | 10 Apr, 2025 The government will "swiftly" devise support measures for the local chip industry to cushion the impact of the United States' planned tariffs on semiconductor imports, the industry minister said on Thursday.
The South Korean currency weakened markedly against the US dollar on Tuesday to reach the lowest level in over 16 years amid deepening concerns about the impact of the Donald Trump administration's sweeping tariff plan on the economy.
As global stock markets plunged on Monday, US President Donald Trump defended his controversial tariff policies, dismissing concerns over the economic impact.
The government will hold a series of emergency meetings with representatives from major South Korean industries expected to suffer damage from the United States' hefty tariffs, the industry ministry said on Friday.
South Korea's exports gained 3.1 percent from a year earlier in March, marking a second consecutive month of increase, driven by robust demand for semiconductors and other information technology (IT) products, data showed on Tuesday.
