US commerce sec suggests memory chip makers could face 100% tariffs unless they commit to US production

Last Friday, US memory company Micron broke ground on a new $100 billion multi-foundry complex in Syracuse, New York, as part of the company's $200 billion project to expand facilities in America. Joined by various guests and politicians, the ceremony was also notable for familiar remarks made by the US commerce secretary to reporters: foreign chip makers could be hit with 100% tariffs, unless they invest more in the US.

As reported by Bloomberg, Howard Lutnick (above, second right) pointed out that the possibility of import levies, already addressed in a trade accord with Taiwan, also applies to South Korean firms.

"Everyone who wants to build memory has two choices: They can pay a 100% tariff, or they can build in America. That’s industrial policy.”