Korea scrambles to assess fallout from new U.S. polysilicon tariffs

The Ministry of Trade, Industry and Resources on Tuesday held a meeting with relevant ministries and companies to discuss the impact of the latest U.S. tariffs on polysilicon — a key material in semiconductors and photovoltaics — and possible countermeasures.

Officials from the Ministry of Climate, Energy and Environment, Samsung Electronics, OCI Company — a major materials supplier — and other related companies attended the meeting, which was presided over by Deputy Minister for Trade Park Jung-sung.

They discussed measures to minimize the impact of Washington's latest tariffs, including assessing their effects on exports by Korean companies and the supply chains of Korean firms operating in the United States, the Trade Ministry said in a press release.

"The government will make every effort to provide timely and targeted support for local businesses," Park said.

The meeting came after U.S. President Donald Trump signed a proclamation last week imposing a 15 percent tariff on polysilicon derivative products, with the new trade measure set to take effect at 12:01 a.m. on Dec. 4.

Trump took the latest tariff action under Section 232 of the Trade Expansion Act of 1962, a law that gives the president authority to adjust imports when he determines that they threaten to impair national security.

Yonhap