Bessent Urges G20 Tariffs as U.S. Weighs Chip Duties
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U.S. Treasury Secretary Scott Bessent urged G20 nations to adopt tariffs to protect domestic industries from imports, citing the Trump administration as a model for the strategy.
Politico reported last week that the U.S. government is considering new tariffs on semiconductors. Commerce Secretary Howard Lutnick confirmed the reports during a CNBC interview on Wednesday, September 2, 2026.
Yonhap noted that U.S.-based companies may be exempt from any resulting duties.
Sources
- Yonhap: Lutnick: Trump gov't considering 'targeted,' thoughtful' tariff policy for semiconductors
- Yonhap: Cheong Wa Dae says no details finalized after Lutnick's remarks on 'targeted' chip tariff
- ABC News US: Bessent says G20 countries should also use tariffs to protect their industries from cheap imports