NEW DELHI: US President Donald Trump took a tough stand against China as soon as he got the power. Trump has waged a trade war against China. The two countries are levying strong tariffs on each other's products. That is why the Us companies operating in China are looking more at India. Taiwan-based company Foxconn plans to start its business in India. The production of the Apple iPhone and Amazon Eco is now shifting from China to India.
Foxconn is also known as the Hahn High Precision Industry Company. The company set up its factory in India four years ago. There are two assembly plants in operation. Now, there are plans to open two more plants. Last year, due to a trade war, Donald Trump raised tariffs on thousands of Chinese products.
This includes iPhones manufactured by Foxconn, Amazon Echo speakers, etc. Meanwhile, American companies operating in China say they are facing unfair competition from Chinese manufacturers. According to the US-China Business Council's annual report released on Thursday, 81 percent of companies believe they have suffered losses, compared to 73 percent last year. The Chinese economy has suffered a severe blow from this war.
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