Foxconn Technology (OTCPK:FXCOF) said it expects a relatively low impact from potential new tariffs from U.S. President-elect Donald Trump due to the company's global manufacturing footprint, Reuters reported.

Taiwan’s Foxconn said on Wednesday it expects any impact of new tariffs from U.S. President-elect Donald Trump to hit it less than its rivals, citing its global manufacturing footprint. Young Liu, chairman of the contract manufacturer and key Apple supplier,

Foxconn anticipates minimal impact from U.S. tariffs under President-elect Trump, citing its extensive global manufacturing. While production shifts may occur, Foxconn's diversified locations give it an advantage over rivals.

On5, US President-elect Donald Trump announced via social media that he would sign an executive order on his first day in office, imposing a 25% tariff on imports from Mexico and Canada, and an additional 10% tariff on Chinese products.