NEW TAIPEI, Taiwan (Reuters) - Taiwan's Foxconn, the world's largest contract electronics manufacturer and Apple's ( AAPL ) main iPhone maker, can plan its production around new U.S. tariffs, the company's chairman said on Wednesday.

U.S. President Donald Trump announced and then paused until March 4 an across-the-board 25% tariff on all U.S. imports from Mexico and Canada.

Foxconn Chairman Young Liu, speaking to reporters at the company's headquarters in New Taipei, outside the capital Taipei, noted it manufactures in both the United States and Mexico.

"Depending on the tariffs, we will plan different production capacities accordingly," he said.

Trump wants companies to manufacture in the United States and Foxconn will make relevant "arrangements" with its partners in the country, Liu added.

"For the company, if we don't manufacture here, we can do it there, so the impact is not too great," he said.

However, tariffs overall will not be good for the world economy and will shrink markets, Liu added.