Hon Hai Precision Industry Co (鴻海精密) intends to set up technology parks in the US or Mexico to help Taiwanese companies bypass the 20 percent tariff the US is set to impose on Taiwan, Hon Hai chairman Young Liu (劉揚偉) said yesterday.
Also the chairman of the Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA), Liu said the tariffs will affect most member companies, with 25 percent expecting to face a major impact.
He said the tech parks, which could be established in the US, Mexico, or other developing countries, would offer TEEMA members the most favorable conditions negotiated either by the host country or by Hon Hai, also known as Foxconn Technology Group (富士康科技集團).
Photo: CNA
Liu also said TEEMA would work closely with the government in order to minimize the impact of the tariffs on Taiwan’s small and medium-sized enterprises (SMEs).
TEEMA secretary-general Lin Chuan-neng (林全能) said that of the 17 kinds of products manufactured by member firms, heavy machinery and electronics were the most impacted by the tariffs.
The association will work with the government to get it to introduce supporting measures to help member SMEs expand into overseas markets.
Citing Liu, Lin said TEEMA will work to establish tech parks in key market regions in line with current trends in regional manufacturing development.
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