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, 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.

Several companies have pulled their full-year outlooks for 2025, with many citing market uncertainty exacerbated by Trump’s tariffs.