US President Joe Biden announced sweeping tariffs on multiple Chinese goods on May 14. Industry experts said China’s lithium-ion battery exports will likely take a significant hit while the solar sector is less unlikely to be disrupted.

While governments in the US, Europe, India, and Japan are eager to strengthen domestic semiconductor supply chains with subsidies, Taiwan sees its irreplaceable role in helping global teams actualize their innovation faster than building fabs from scratch.

Foxconn held its earnings call for the first quarter of 2024 on May 14, during which the focus remained on AI servers and the EV market. By building upon its solid technological expertise, Foxconn hopes that innovative business models can generate more momentum across its various business groups.