Foxconn, the largest electronics outsourcer manufacturer in the world, said Friday that the Chinese and US governments are engaged in a non-commercial, technological war and described the dispute as greatest challenge faced by the company.
US President Donald Trump said on Monday that Washington would charge 10 percent import duties on $ 200 billion worth of Chinese products if Beijing retaliated against earlier surcharges imposed on it by $ 50 billion in products from China. The US accuses China of stealing China’s intellectual property, a charge Beijing denies.
“The biggest challenge we are facing is the US-China trade war. How we manage it and adapt it is a question on which our senior managers are developing various plans, “chairman Terry Gou said at the company’s annual meeting. He did not give details about the plans.
Foxconn is formally known as Hon Hai Precision Industry. The company employs millions of employees and has among its customers Apple.
Analysts say a trade war between the US and China could break supply chains for components for the technology and automotive industries, which are highly dependent on parts made by companies such as Foxconn.
The US and China are Taiwan’s largest export markets.