Taiwan's Foxconn Predicts Lesser Impact from Trump's Tariffs Compared to Rivals

On Wednesday, Taiwanese Foxconn announced that it expects the new tariffs proposed by President-elect Donald Trump to affect it less than its competitors, citing its global manufacturing footprint. Young Liu, the chairman of the contract manufacturer and a key supplier for Apple (NASDAQ:AAPL), stated to reporters after a forum held in Taipei that he believes the primary impact of the new tariffs will be on customers due to the company's reliance on a contract manufacturing business model. Liu said, "Customers may decide to change their production locations, but when we look at Foxconn's global footprint, we are ahead. As a result, the impact on us will likely be smaller compared to our competitors."