Business

Foxconn considering US plant

TAIPEI: Foxconn, the world's largest contract electronics maker, is considering setting up a display-making plant in the US in an investment that would exceed US$7 billion (S$9 billion), company chairman and chief executive Terry Gou said yesterday.

The plans, which would be carried out with its unit Sharp Corp, still depend on many factors, such as investment conditions that would have to be negotiated at the US state and federal levels, Mr Gou told reporters on the sidelines of a company event.

US President Donald Trump had pledged to put "America First" in his inauguration speech on Friday, reinforcing concerns of a US protectionist agenda that has cast a cloud over the outlook for global trade.

Mr Gou said the rise of protectionism is unavoidable.

UNCERTAINTIES

The chairman of Foxconn, formally known as Hon Hai Precision Industry Co, warned that uncertainties for this year make it tough to have a very clear analysis and outlook, but he said it was clear politics would underpin economic development.

Mr Gou also said: "The trend of politics serving the economy is clearly defined."

Taiwan's tech-dominated manufacturers are nervous about potential US trade policies because Mr Trump has threatened to raise tariffs on imports from some countries, notably China. 
- REUTERS

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