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U.S. President Donald Trump signs an executive order in the White House Rose Garden on April 2 imposing a baseline 10% tariff on all imports. / Source: Reuters-Yonhap News

U.S. President Donald Trump said on April 3 (local time) that tariffs on semiconductors would be imposed “very soon.”

Following the U.S. decision to begin applying a 25% tariff on imported automobiles that same day, Trump’s announcement of impending tariffs on semiconductors has raised red flags for South Korea’s exports to the U.S.

Automobiles and semiconductors are the top two export categories from South Korea to the United States.

According to the White House press pool, President Trump made the comments while en route to Miami aboard Air Force One to attend a LIV Golf tournament. “Semiconductor [tariffs] will start very soon,” he told reporters.

When asked about the timing of the tariff announcements on semiconductors and pharmaceuticals, Trump responded, “Tariffs on pharmaceuticals will start at a level we’ve never experienced before.”

He added, “We are closely watching the pharmaceutical industry. It’s being treated as a separate category, and we’ll make an announcement soon. It’s currently under review.”

When asked whether there is room for bilateral negotiations on reciprocal tariffs, Trump replied, “It depends on the situation.”

He continued, “That only applies if the other country offers us something good. In the case of TikTok, China will probably approve the deal, but they will ask us to take some kind of action regarding tariffs.”

Regarding the sale of TikTok’s U.S. operations, Trump said, “We’re close to finalizing a deal with a great group of people. Several investors are involved.”