According to reports from Taiwan, the chief executive of Tech firm Foxconn Technology Co. has announced in a statement that his company is thinking about setting up a new factory in the US.

Foxconn CEO Terry Gou said in the press conference that these investment might surpass $7 billion.

This latest revelation by a major supplier of Apple Inc. would be likely to produce massive number of employments, if it goes ahead.

This announcement follows US President Donald Trump confirmation of his “America First” agenda meant turning over international trade agreements.

Both during his campaign, and since winning the election, Mr Trump had frequently exposed high import tariffs in order to boost US and foreign firms to move production to the US.

He further highlighted China as a major cause of lost manufacturing jobs in the United States.

Moreover Foxconn officially known as Hon Hai Precision has most of its plants in China where it assembles Apple’s iPhones.

In the 2016, the company acquired Japanese electronics giant Sharp and the display-making investment being considered in the US is thought to be under the new Sharp unit.

The White House website, updated after President Trump’s inauguration, says that the new management will follow plans to alter business affairs with Asian countries.

New US President has also revealed that he will be re-negotiating the North American Free Trade Agreement (Nafta) with neighboring Canada and Mexico.