Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Foxconn's Gou to discuss trade war, investment on U.S. trip

Published 12/03/2019, 06:30 AM
Updated 12/03/2019, 06:34 AM
Foxconn's Gou to discuss trade war, investment on U.S. trip

TAIPEI (Reuters) - Terry Gou, the billionaire founder of Apple (NASDAQ:AAPL) supplier Foxconn, said on Tuesday he would discuss investment and the China-U.S. trade war while in the United States, adding that he may get to meet U.S. President Donald Trump again.

Gou, Taiwan's richest person with a net worth of $7.6 billion according to Forbes, stepped down as chief of Foxconn this year, handing over the running of the company to an operations committee.

But he retained a seat on the board of the company, formally known as Hon Hai Precision Industry Co Ltd.

Gou, who is attending the White House Christmas party as part of his 10-day trip, met Trump in Washington in May to discuss the Taiwanese company's planned investment in Wisconsin.

He told reporters at Taipei airport he has two meetings arranged with administration officials about investment, and wants to discuss the China-U.S. trade war to try and "understand when there will be a fairly good conclusion".

Trump, however, will be more interested in the Wisconsin investment, Gou added, sitting by a cap with a Taiwanese and U.S. flag on it and the words "Make America great again" - a popular slogan of Trump's.

"If I bump into him I'll tell him about the progress," Gou said.

Foxconn is finding it hard to find workers, given the low unemployment rate in the United States, he added.

"In Wisconsin it's not easy to find this year's target of 500 people. It's very difficult."

Foxconn pledged to create 13,000 jobs and build a $10 billion campus in Wisconsin, including factories, but it has not met early hiring targets and has said it has been reconsidering its plans.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The planned 20-million-square-foot campus in southeastern Wisconsin had been hailed by the White House as the largest investment for a brand new location by a foreign-based company in U.S. history and proof that Trump was reviving American manufacturing.

But Foxconn's changing plans have raised doubts about how many jobs it will create.

Foxconn initially sought to manufacture advanced large-screen displays for TVs and other consumer and professional products at the Wisconsin site.

It later said it would build smaller Generation 6 liquid crystal display screens instead and is currently constructing a nearly 1 million-square-foot facility that will begin production in 2020's 4th quarter.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.