“Apple Inc’s biggest iPhone assembler, Foxconn, is considering setting up a factory in Vietnam to mitigate any impact of an ongoing trade war between the United States and China, Vietnamese state media reported,” Reuters reports.
“The report comes after several executives interviewed by Reuters last week singled out Vietnam and neighboring Thailand as preferred destinations should they need to shelter operations from the trade war, braving hurdles such a lack of skilled labor and inadequate infrastructure,” Reuters reports. “‘Foxconn Group and the Hanoi People’s Committee are working together to open an iPhone manufacturing facility in Vietnam to negate the impacts of the U.S.-China trade war,’ the Vietnam Investment Review reported on Monday.”
Reuters reports, “In trade talks on Saturday, U.S. President Donald Trump and Chinese President Xi Jinping agreed not to introduce any tariffs for 90 days as negotiations continue.”
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MacDailyNews Take: Another move in the pre-deal chess game, this time by China. And a weak one, at that, as the logistics of starting up an iPhone factory, not to mention finding an ample workforce, are massive.