Chip demand jumps amid tariff uncertainty

South Korea’s exports surged in early April as semiconductor shipments hit a record, even as tariff rules in the United States remain unsettled. (chosun.com) The Korea Customs Service said exports for April 1 through April 10 rose 36.7% from a year earlier to $25.211 billion, the highest total ever recorded for the first 10 days of any month. Imports rose 12.7% to $22.112 billion, leaving a trade surplus of $3.099 billion. (chosun.com) Semiconductor exports reached $8.573 billion in the 10-day period, up 152.5% from a year earlier, and chips made up 34.0% of total exports. Exports also rose to China, the United States, Vietnam, the European Union and Taiwan, while passenger vehicle and auto-parts shipments fell. (chosun.com) Tariffs are taxes paid by importers at the border, and they can change where companies buy parts, build products and ship finished goods. The House of Commons Library said a 10% tariff now applies to most United Kingdom goods entering the United States, while the current U.S.-U.K. deal leaves open possible semiconductor exemptions from future tariffs. (commonslibrary.parliament.uk) That U.S.-U.K. arrangement has been only partly implemented since the two governments announced the general terms of an Economic Prosperity Deal on May 8, 2025. The Commons Library said the agreement was designed to evolve over time and that the future tariff framework remains unclear for several sectors. (commonslibrary.parliament.uk) In the United States, a three-judge panel at the Court of International Trade heard arguments on April 10 over the Trump administration’s 10% global import tax. Reuters reported that 24 mostly Democratic-led states and two small businesses sued to block the measure after it took effect on February 24. (usnews.com) The administration said the tariff is legal under Section 122 of the Trade Act of 1974, which allows duties of up to 15% for up to 150 days during large balance-of-payments deficits or to prevent an imminent dollar depreciation. The challengers said that authority was meant for short-term monetary emergencies, not routine trade deficits. (usnews.com) The court fight followed a February 20 Supreme Court ruling that struck down many earlier Trump tariffs imposed under the International Emergency Economic Powers Act. Reuters said no previous U.S. president had used either that law or Section 122 to impose tariffs in this way. (usnews.com) For chip exporters, the result is strong demand on one side of the Pacific and unresolved trade rules on the other. South Korea’s April numbers show how quickly semiconductor sales are rising while governments and courts are still deciding what import taxes will apply next. (chosun.com) (commonslibrary.parliament.uk) (usnews.com)