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 reported a 91% surge in Q1 profit, driven by strong AI server demand, beating forecasts. Despite robust AI growth, it issued a more cautious full-year outlook amid US-China trade tensions. The company is expanding in electric vehicles and shifting some production to Mexico to mitigate tariff risks.