Make products in the United States and sell them to China — Foxconn executive

Cornelia Mascio
Giugno 25, 2018

"The biggest challenge we're facing is the U.S".

"If you want to work around customers, to satisfy [their different needs], or take advantage of [the] consumer electronic markets, there are no other places to go but China and the U.S", said Louis Woo, special assistant to Foxconn Chairman Terry Gou, at the SelectUSA Investment Summit in National Harbor, Maryland, on Thursday.

The billionaire chairman and chief executive of Foxconn Technology Group, Apple's main iPhone assembler and the world's largest electronics contract manufacturer, argues that China's "unreasonable" restrictions on overtime hours hurts his workers and the company's competitiveness.

"Right now during the low season we are following China's regulations, and in the peak season we are following U.S. regulations".

Foxconn is now China's largest private employer and keeps almost a million on its payroll.

A Sino-U.S. trade war could disrupt supply chains for the technology and auto industries, sectors heavily reliant on outsourced components, and derail growth for the world economy. Trump is expected to join Foxconn when it breaks ground on its manufacturing park in Wisconsin on June 28. It will break ground on a $10 billion factory in Wisconsin next week, which will be its biggest US facility. "The fast-shrinking Chinese investment in the US reflects the damage being done to China-US-trade relations.by the trade crusade of Trump and his trade hawks", it said. There have been some concerns that iPhones made by Foxconn in China could suffer from the tit-for-tat tariffs the US and China may impose and disrupt the global supply chain. He refused to comment on whether Foxconn has plans to manufacture iPhones in the U.S.

When Terry Gou meets shareholders at Hon Hai Precision Industry Co.'s annual general meeting today he will likely talk about USA expansion, booming China, a looming trade war, AI, automation, and cloud computing.

"We have a number of response plans", Gou said at the annual shareholder meeting for Hon Hai Precision Industry, Foxconn's main listed unit.

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