At a rally in Ohio, President Trump stated that foreign companies would face tariffs of up to 300% unless they build factories in the United States within 18 months. He did not name specific industries, but indicated a policy of encouraging reshoring.
At an event serving as a prelude to the U.S. presidential election, President Trump said that tariffs of up to 300% would apply to foreign companies only if they invest and build factories in the United States within 18 months. By describing the grace period for compliance as approximately 18 months, he indicated a willingness to use tariffs as leverage to pressure companies to comply.
Although the remarks did not name specific industries, they have been viewed as part of a policy to promote the reshoring of manufacturing, and could affect relations with allies and investment destinations. He also emphasized the idea of attracting investment by foreign companies through tariffs.
The report also referred to increased pressure on South Korea, saying that remarks had suggested South Korea would bear “double” the burden in connection with an Alaska LNG development project. South Korea is monitoring the related developments and paying close attention to negotiations, including the status of investment memorandum signings.
Investment plans and the current status of negotiations involving Japan, South Korea and Taiwan were also outlined. Japan has pledged investment of approximately $550 billion, South Korea approximately $350 billion, and Taiwan is expected to advance investments including TSMC's Arizona project.