The chief executive of Taiwan’s technology giant Foxconn has confirmed his company is considering setting up a new plant in the United States.

Terry Gou told reporters the investment might exceed $7bn (£5.7bn).

The investment by a major supplier of Apple Inc would be likely to generate thousands of jobs, if it goes ahead.

The plans come after US President Donald Trump confirmed his “America First” agenda meant overturning international trade treaties.

During his campaign, and since his election, Mr Trump had repeatedly threatened high import tariffs in order to encourage US and foreign companies to move production to the US.

He singled out China as a significant cause of lost manufacturing jobs in the United States.

Foxconn – formally known as Hon Hai Precision – has most of its factories in China where it assembles Apple’s iPhones.

Last year, the firm took over Japanese electronics veteran Sharp and the display-making investment being considered in the US is thought to be under the new Sharp unit.

The White House website, updated after President Trump’s inauguration, makes clear that the new administration will pursue plans to alter trading relationships with Asian countries.

President Trump has also announced he will be renegotiating the North American Free Trade Agreement (Nafta) with Canada and Mexico.

Source: BBC

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