Samsung seeks ways to cushion tariff blow

IT SEEKS TO SHIFT PRODUCTION TO LEAST-AFFECTED COUNTRIES

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Tech giant Samsung Electronics may need to overhaul its global production strategy as new US reciprocal tariffs could significantly affect its smartphone business, industry sources said on Sunday.

Last week, US President Donald Trump announced plans to impose a minimum 10 per cent "baseline" tariff on all imports to the United States and country-specific "reciprocal" tariffs that include 25 per cent duties for South Korea.

The reciprocal tariffs, covering most product categories except some products like vehicles, semiconductors and pharmaceuticals, are set to take effect from today, reports Yonhap news agency.

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