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Foxconn CEO says investment for display plant in U.S. would exceed $7 billion

TAIPEI Foxconn, the world’s largest contract electronics maker, is considering setting up a display-making plant in the United States in an investment that would exceed $7 billion, company chairman and chief executive Terry Gou said on Sunday.

The plans, which would be carried out with its unit Sharp Corp (6753.T), still depend on many factors such as investment conditions that would have to be negotiated at the U.S. state and federal levels, Gou told reporters on the sidelines of a company event.

The plans come as U.S. President Donald Trump pledged to put “America First” in his inauguration speech on Friday, reinforcing concerns of a U.S. protectionist agenda that has cast a cloud over the outlook for global trade.

Foxconn is formally known as Hon Hai Precision Industry Co (2317.TW).

(Reporting by J.R. Wu; Editing by Mark Potter)

Reuters