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. “We will take a more cautious view on the future outlook,” Chairman Young Liu said during an earnings call on Wednesday, citing foreign-exchange headwinds and supply-chain disruption caused by U.S. tariff policies over the past month.

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