It’s a reminder tariffs are still weighing on international trade. Foxconn is best known in the U.S. for being the primary contract manufacturer for Apple and an essential part of the iPhone supply chain.

Foxconn posted a sharp increase in earnings for the first quarter of 2025, but cut its full-year guidance Tuesday, citing currency headwinds and U.S. trade policy risks. Revenue climbed 24.2% year over year in the JanuaryMarch quarter,

Foxconn, Apple's top iPhone assembler and Nvidia's AI server maker, has ridden the crest of the wave for artificial intelligence demand, but is also vulnerable to changes in U.S. trade and tariff policy given its large manufacturing footprint in countries like China and Mexico.