Young Liu, chairman of Foxconn and key Apple supplier, told reporters after a forum in Taipei that it saw the primary impact of any fresh tariffs falling on its clients because its business model was based on contract manufacturing.

"Clients may decide to shift production locations, but looking at Foxconn's global footprint, we are ahead. As a result, the impact on us is likely smaller compared to our competitors," he said. US President-elect Donald Trump said on Monday that on his first day in office, he would impose a 25% tariff on all products from Mexico and Canada and charge goods from China an additional 10% tariff.

Foxconn, the world's largest contract electronics maker, has extensive manufacturing facilities in China, including a giant iPhone assembly plant. However, as part of a supply chain diversification effort, it has been increasing its investments in other countries, such as the United States, Mexico, and Vietnam. In Mexico, it is building a large manufacturing facility to produce Nvidia's GB200 Superchips.

Liu said Foxconn would only be able to share more details about the company's US plans after January 20, once Trump takes office and his policies become more apparent. "After that, we will have a corresponding strategy in place," he said.

"What you're seeing now is a game between nations, not yet between companies. Whether it's 25% or an additional 10%, the outcome is uncertain as they continue to negotiate. We are constantly adapting and refining our global strategy."