Hon Hai Precision Industry Co, also known as Foxconn Technology, may currently be planning to build a manufacturing plant in the U.S. After several meetings between their Chairman and President Trump, the company will hopefully begin producing high tech electronics on American shores.
Return of Jobs
American manufacturing jobs have been going overseas in large numbers since the 1980s. With Chinese and Southeast Asian countries building production facilities en masse, for a long time it looked like America would soon cease to be an industrial superpower. However, Foxconn’s increasing likelihood of producing electronics in the States is one step closer to rebuilding America’s production might.
Closed Door Meetings
The news began to circulate in April of meetings between Terry Gou, the Chairman of Foxconn, and U.S. President Donald Trump. While the meetings were kept hushed, a magnate cannot meet the President without it being suggested that a large investment will soon take place. Mr. Gou has not made an official announcement yet, but has allowed it to slip that by the summer of 2017, more concrete information will be available.
About Foxconn Technology
Foxconn Technology is the largest assembler of high tech consumer goods in the world. Foxconn boasts contracts as large as producing Apple’s extremely popular iPad and iPhone 7 lines. Producing these goods within the United States would be a significant boost to a local economy, as well as a reasonable first step toward revitalizing America’s status as a producer nation.
Of course, the Chinese government is not eager to see Foxconn go. Both the United States and China compete for Foxconn’s business. Hopefully we’ll have updates by the end of this year.
Source: Taiwan News