讀後心得

The United States' tariff policy has forced electronic manufacturing giants such as Hon Hai, Inventec, and Wistron to accelerate their establishment of factories in the U.S. However, due to the difficulty in transferring components, these manufacturers are still affected by tariffs. Additionally, the high costs of establishing factories in the U.S. have led to a decrease in profit margins. Experts point out that the high tariffs on components will be passed on to downstream manufacturers, which could lead to inflation in U.S. electronic products. Although major companies have expanded production in the U.S., the cost transfer has not been ideal. The joint venture plan between TSMC and Intel remains a mystery, with significant market reactions.

The United States' tariff policy not only affects giants in the electronic manufacturing services sector, such as Foxconn, Inventec, and Wistron, which are forced to accelerate the implementation of their "Made in America" plans. However, due to the difficulties in the transfer of components, they remain affected by tariffs. Additionally, production costs in the U.S. remain high, which will depress gross margins.

According to an expert, in recent years, giants like Foxconn, Wistron, and Inventec have continuously established factories in the U.S. to meet the requirements of American manufacturing. However, they now face the challenge of high tariffs, and if they relocate all production back to the United States, their gross margins may decline.

It is reported that both labor and material costs on production lines in the U.S. are higher than in Taiwan, which will inevitably impact future profitability. In the face of the tariff storm from the U.S., electronic manufacturing companies such as Foxconn, Quanta, Compal, and ASE are feeling the pressure and are forced to accelerate the process of "Made in America." A key factor lies in the supply of components; many components are still supplied by small manufacturers, and if they cannot relocate to the U.S., it will affect the overall situation.

Experts mentioned that component suppliers will have to pass on the high tariffs to downstream manufacturers, which may trigger inflation issues for electronic products domestically in the U.S. Among the measures taken by major companies, Quanta has already established server production capacity in the U.S., responsible for assembly and testing, while Foxconn's subsidiaries are investing in land and factories in Texas to serve the North American market. Additionally, Wistron and Inventec are actively advancing their respective investment plans in the U.S., while Compal and ASE are also assessing the situation.

Experts proposed three strategies that must be actively adopted: first, utilize the first sale principle to lower the taxable base of imported goods; second, plan for the country of origin properly; and third, restructure the supply chain. As for China Steel, since its products are directly exported to the U.S., it is less affected by equivalent tariffs, but the demand in the steel industry chain may be affected.

Furthermore, regarding rumors about a collaboration between TSMC and Intel, if the two companies establish a joint venture to operate Intel’s wafer fabrication facility in the U.S., this news caused TSMC's stock price to drop by 6%, and it remains to be seen whether the two will collaborate in the future.

• Hong Kong has also begun applying the same 34% tariff standard against China, and the logistics industry is concerned that costs may ultimately be passed on to consumers.
• The Trump administration has once again imposed a 32% tariff, impacting Taiwan's industries, with Lai Ching-te expressing that this move is unreasonable.
• TSMC led the market surge, and the Taiwan stock market soared, with an intraday rise of over 400 points, while Foxconn's stock price broke through 160 NT dollars, hitting a nearly ten-month low, with analysts citing concerns over excessive investment.