(4th LD) Trump signs proclamation imposing 15 pct tariff on polysilicon derivative products

U.S. President Donald Trump signed a proclamation on Thursday imposing a 15 percent tariff on polysilicon derivative products, a measure aimed at safeguarding America's polysilicon manufacturing industry. The tariff, set to take effect on December 4, 12:01 a.m. Washington time, is intended to bolster the U.S. semiconductor and solar panel sectors, which rely heavily on polysilicon for production.

The proclamation also establishes minimum import prices for polysilicon and its derivatives, with rates set at $21 per kilogram for polysilicon, $100 per kilogram for polysilicon ingots and wafers, $0.22 per watt for solar cells, and $0.38 per watt for solar modules. These price controls are meant to create a more competitive environment for American producers and prevent Chinese dumping of the materials.

Trump's decision to take action under Section 232 of the Trade Expansion Act of 1962 stems from concerns that foreign countries have been weakening U.S. polysilicon producers, undermining the nation's economic and national security. The White House emphasizes that this series of trade actions aims to bring manufacturing capacity back to America and protect American industry from overseas threats.

In response to the U.S. action, South Korea's Ministry of Trade, Industry and Energy announced that it would hold a meeting with relevant ministries and companies to evaluate the impact of the tariff on the country's exports to the United States and assess its effects on Korean businesses.