Seoul: The South Korean presidential office said Thursday semiconductor tariffs were part of a finalised trade deal with the United States, dismissing remarks by US Commerce Secretary Howard Lutnick that chip tariffs were not a part of the agreement.

Presidential spokesperson Kim Nam-jun said that Seoul and Washington clinched an agreement on tariff levels for South Korean semiconductors, although Lutnick said in a social media post that semiconductor tariffs were not part of a trade deal.

“Regarding semiconductors, the two nations agreed to apply tariffs at levels not less favorable than those applied to Taiwan,” Kim said. “The outcome of the negotiations can be seen as having secured an equal footing with Taiwan, a major competitor in the semiconductor sector, and reduced uncertainties

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