The US Department of Commerce is considering linking semiconductor tariff rates to the level of investments made by foreign manufacturers within the US. This policy could extend beyond raw chips to include finished products such as laptops, gaming consoles, and data center servers.
TSMC is positioned as a potential beneficiary of this approach due to its $265 billion investment in the US. Additionally, the US Department of Commerce expects Taiwan to announce further investments ranging from $20 billion to $30 billion next week.
Under a current memorandum of understanding, Taiwanese companies investing in US production receive tariff exemptions. During construction, they can obtain a duty-free import quota equivalent to 2.5 times the planned US capacity, which decreases to 1.5 times once production begins.
Samsung Electronics and SK hynix may face increased pressure to move DRAM and NAND production to the US. Samsung is operating two plants in Austin, Texas, and completing a new facility in Taylor, expected to launch in 2026. SK hynix has started building an HBM packaging plant in Indiana.
While both South Korean firms have US investments, it remains unclear if these will reduce tariffs on chips produced in South Korea and exported to the US. Micron, the only major US memory chip manufacturer, currently operates more plants abroad than domestically.
