Foxconn Plans Production Adjustments Amidst US Tariff Uncertainty
Foxconn, the world's leading contract electronics manufacturer and Apple's primary iPhone assembler, has stated that it will adjust its production strategy in response to potential US tariffs.
The announcement follows US President Donald Trump's decision to temporarily delay a 25% tariff on imports from Mexico and Canada until March 4th. Foxconn Chairman Young Liu noted that the company has manufacturing operations in both the US and Mexico.
"Depending on the tariffs, we will plan different production capacities accordingly," Liu explained. He also stated that Foxconn will collaborate with its partners in the US to make necessary adjustments.
Liu emphasized that Foxconn's flexibility allows it to shift production between its facilities. "For the company, if we don't manufacture here, we can do it there, so the impact is not too great," he said.
However, Liu expressed concerns about the potential impact of tariffs on the global economy, predicting that they could shrink markets.