Foxconn's chairman mentioned on Wednesday that the company, known as the world's largest contract electronics manufacturer and Apple's primary iPhone supplier, can adjust its production strategies following new developments.
The U.S. President recently announced a 25% tariff on all U.S. imports from Mexico and Canada, scheduled to be on hold until March 4.
Chairman Young Liu indicated that Foxconn operates in both the United States and Mexico and will tailor its production capacities based on tariff considerations. He expressed Foxconn's commitment to align with U.S. manufacturing desires by making necessary arrangements with partners in the country.
Liu emphasized that if manufacturing in one location is not an option, the company can shift production elsewhere, mitigating substantial impacts. Nevertheless, Liu cautioned against tariffs in general, highlighting their potential negative effects on the global economy and market size reduction.