Seoul: A U.S. tech expert at the Future Economic Forum hosted by Yonhap News Agency emphasized the need for South Korean semiconductor companies to prepare for potential shifts in trade and economic policies under the incoming second Trump administration. According to Yonhap News Agency, Chris Miller of Tufts University, and author of "Chip War," pointed out in a videotaped speech at the annual event that former President Donald Trump, set to return to the White House next January, has promised significant policy changes. These include imposing higher tariffs on imported goods, particularly those from China, and expanding export controls to limit sales of artificial intelligence chips and chip-making tools to China. These projected policy approaches pose significant threats to the South Korean economy, which heavily relies on exports, with the United States being its biggest export destination. Miller emphasized that the semiconductor industry might face severe impacts due to higher tariffs and export restr ictions, given its complex, interconnected supply chains involving major players like China. Miller suggested that many countries, including major semiconductor producers, might start negotiations to address economic disagreements and minimize the imposition of tariffs. He noted the importance for semiconductor companies to track developments closely, given that supply chains span across the Pacific. He advised firms, particularly those in South Korea and Taiwan, to monitor U.S. tariff schedules and export bans closely, developing strategies such as relocating production to third countries or preparing for potential Chinese retaliation. Miller highlighted that South Korean companies, like those in Taiwan and Japan, face similar challenges due to the China-U.S. competition, necessitating strategic bifurcation of supply chains to cater to both Chinese and Western markets.