Samsung Electronics stated that a newly established trade agreement between South Korea and the United States is expected to reduce business uncertainty. The announcement coincides with the company forecasting a surge in major chip orders following a USD 16.5 billion deal signed with Elon Musk’s Tesla.
U.S. President Donald Trump confirmed that the United States will impose a 15% tariff on South Korean imports as part of the agreement. This is a reduction from the previous 25% rate and serves to temporarily ease tensions with one of the U.S.’s top trading partners and a key ally in Asia. South Korea is a leading exporter of semiconductors, vehicles, and steel.
The tariff adjustment came shortly after Tesla announced it had entered a chip supply agreement with Samsung, a decision analysts say could support the recovery of Samsung’s lagging contract chip manufacturing segment.
“Following this milestone, we expect to secure further orders from major clients,” said Samsung Vice President Noh Mi-jung during an earnings call, referring to the company’s struggling foundry business.
She added that Samsung’s new semiconductor manufacturing plant in Texas, which will produce chips for Tesla, is progressing according to schedule and is expected to begin operations in 2026.
