bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

hooksAmpRedirectArticle

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

paywallTypes

createdDate

publishedDate

urlAlias

moreOnThisArticles

sponsorType

commentCount

authorLocations

authors

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

articleSpeeches

socialHeadline

headline

images

flag

firstTopic

glossary

flattenTypeIds

image

relatedLinks

relatedNewsletters

__typename

sponsor

pdfFiles

seriesReverseOrder

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

readingTime

customTimezone

liveContents

Robert Delaney

US President Donald Trump used the groundbreaking ceremony for Foxconn’s US$10 billion plant in the US state of Wisconsin to emphasise his hard-line stance towards China.
“We’ve helped rebuild China. Someday they’ll say thank you. But we don’t want to do that anymore,” Trump said at one of the first buildings in the new campus. “We want to have a fair and balanced situation.”
Foxconn chief Terry Gou downplays risk of US-China trade war
Portraying what will be a 20 million square foot campus as part of a resurgence in hi-tech manufacturing in the US, Trump said the manufacturing of flat-screen LCD display panels at the new factory will eventually help narrow a long-running US trade deficit with China.
Foxconn says the plant will employ 13,000 workers when in full production.


“I have a lot of respect for China. I think it’s great. And President Xi, I think he’s great. He’s a friend of mine. But we lost [US]$500 billion over the last number of years, we’ve lost [US]$500 billion a year.”
Punitive tariffs targeting US$50 billion worth of annual imports from China, primarily electronics and manufacturing equipment, are due to take effect on July 6, the same day that China will levy extra import taxes on the same amount of US goods as a retaliatory measure.
Senior Thai delegation meets Foxconn in China to seek investments
Trump has threatened tariffs on an additional US$400 billion worth of Chinese imports if Beijing does not halt its countermeasures.
China’s trade surplus with the US hit a record US$375 billion last year, according to US government data, which pegs at US$119 billion in the first four months of this year.



“We are demanding from foreign countries, friend and foe, fair and reciprocal trade,” said Trump. “We have been very much taken advantage of as a country. We’ve lost our companies. We’ve lost our jobs. That’s why this is so beautiful, because this is as great as it is anywhere in the world, and we’ll be doing it in our country.”
China’s rapid development as a large-scale manufacturer of hi-tech consumer products, some of which compete with US producers, has added urgency to efforts to bring manufacturing of such products back to America.

US Commerce Secretary Wilbur Ross underscored this point in an editorial published by The Journal Times, a local Wisconsin newspaper.
“The Trump administration understands how important it is to rebuild the US consumer electronics manufacturing sector,” Ross said.
“The United States still leads in the creation of innovative, hi-tech products such as semiconductors, state-of-the art materials and components, parts and software, but it must regain its footing in the large-scale production of consumer electronics.”
Foxconn chairman sees biggest challenge in US-China trade war
Taiwan-based Foxconn, known formally as Hon Hai Precision Industry, is China’s largest private employer with about a million on its payroll while US-headquartered Apple is the source of more than half of the company’s revenue.


Foxconn’s total worldwide revenue rose to US$158.2 billion in 2017, up from US$140.6 billion a year earlier.
Several of Foxconn’s largest contract assembly plants are in mainland China, where they put together personal computers, laptops, Apple’s iPads, iPhones and consumer electronics of all sizes and specifications.
Several US economic development authorities, including Pennsylvania’s Lehigh Valley Economic Development Corporation – close to New York City and Philadelphia – vied to host Foxconn’s American manufacturing base. Each offered a package of tax incentives to attract the company.
Consequently, the new facility in Wisconsin has attracted publicity as much for these incentives as for the extra employment, including some 10,000 construction jobs that will be needed over the estimated two-year building period.
State, county and municipal governments collectively offered US$4 billion worth of tax incentives to clinch the deal, CNN and The Wall Street Journal reported.
An independent state fiscal analysis at the time found Wisconsin taxpayers would recoup the investment in the 2042-43 fiscal year, according to the Journal.
Tax giveaway offers may continue.
Ross said in his editorial that Foxconn CEO Terry Gou is considering another enormous facility in the US.


Does AI’s rise have to mean job losses? East Asia tells a different story

Reinventing Kaohsiung: Taiwan’s port city transcends its industrial past

Taiwan’s Foxconn expands AI hardware push with OpenAI deal

UBTech’s 2026 humanoid robot output to grow 10-fold as costs plunge with scale economics

Foxconn

Trump uses Foxconn groundbreaking to emphasise his hard-line China stance

‘We’ve helped rebuild China. Someday they’ll say thank you. But we don’t want to do that anymore,’ says Trump

A worker waits as US President Donald Trump tours a Foxconn facility at the Wisconsin Valley Science and Technology Park June 28, 2018 in Mount Pleasant, Wisconsin. / AFP PHOTO / Brendan Smialowski

US President Donald Trump and Foxconn chairman Terry Gou at a groundbreaking for the Foxconn plant on Thursday in Wisconsin. Photo: Chicago Tribune/TNS

Foxconn chairman sees biggest challenge in US-China trade war

epaselect epa06111590 Terry Gou (C), the founder and chairman of Foxconn, shakes hands with US President Donald J. Trump (L) after speaking about the opening of a Foxconn manufacturing plant in Wisconsin while in the East Room of the White House in Washington, DC, USA, 26 July 2017. Foxconn, a Taiwanese electronics manufacturer, is a primary parts supplier to Apple. EPA/JIM LO SCALZO

People work on machines in a Foxconn factory in Guiyang, Guizhou Province, China. Photo: EPA-EFE

Foxconn looks to AI after maker of Apple and Amazon products celebrates 30 years in China

With 1 million employees and half a dozen factories contributing 4 per cent of the country’s export value, Foxconn’s expansion symbolises China’s role as tech manufacturing powerhouse

Foxconn 30th anniv display

Foxconn 30th anniversary display

Foxconn's 30th anniversary birthday cake

The Foxconn campus in Longhua town, Shenzhen, where the company established its first mainland China factory in 1988. Photo: SCMP/Nora Tam

Terry Gou, head of iPhone assembler Foxconn, downplays risk of US-China trade war

Scott Walker, governor of Wisconsin, left, laughs as Billionaire Terry Gou, chairman of Foxconn Technology Group, left, gestures during an event for the signing of an Electronics and Information Technology Manufacturing Zone Tax Credit Agreement in Racine, Wisconsin, U.S., on Friday, Nov. 10, 2017. The agreement grants the technology giant $3 billion in tax incentives for a massive manufacturing campus in southeastern Wisconsin. Photographer: Daniel Acker/Bloomberg

A security guard patrols at Hon Hai headquarters in Tucheng, Taipei county, in this file picture taken June 8, 2010. Hon Hai Precision Industry's decision to move away from major client Apple Inc and the lower-value electronics contract manufacturing business is a long-term bet that will improve margins and offset rising labour costs. The Taiwanese company, better known by its trading name Foxconn, is building an integrated service package ranging from electronic devices to apps to cloud computing as it strives to become more consumer-driven. REUTERS/Pichi Chuang/Files (TAIWAN - Tags: BUSINESS INDUSTRIAL)

Terry Gou Tai-ming, the billionaire founder and CEO of Foxconn, said he does not think there will be a US-China trade war. Photo: Simon Song

News

China

Economy

China Economy

Business

Companies

Global Economy

China Business

World

United States & Canada

‘We’ve helped rebuild China. Someday they’ll say thank you. But we don’t want to do that anymore,’ says Trump


‘We’ve helped rebuild China. Someday they’ll say thank you. But we don’t want to do that anymore,’ says Trump.


Trump uses Foxconn groundbreaking to emphasise his hard-line China stance

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}‘We’ve helped rebuild China. Someday they’ll say thank you. But we don’t want to do that anymore,’ says Trump

‘We’ve helped rebuild China. Someday they’ll say thank you. But we don’t want to do that anymore,’ says Trump