iPhone Assembler Investing in the USA

The Taiwanese electronics maker, Foxconn, is looking to build a plant in the United States in an investment amount of US$7B. This is according to the company’s CEO, Terry Gou.

CEO Gou has decided to take this step in a way to protect his company from protectionism after President Trump’s inauguration speech. The company will of course have to negotiate terms and conditions with the U.S.

The move comes after the company’s business partner, Masayoshi Son had a meeting with then president-elect Trump last year. Son is the head of the Japan’s SoftBank Group. Son has pledged US$50B.

The display plant could create up to 50,000 jobs.

The planned plant will not take the company away from its responsibilities in China. Just in case you did not know, Foxconn is the iPhone’s number 1 assembler.