How Trump plans to punish firms that leave US

He promised to “substantially reduce” regulations and taxes on American corporations, but those companies that have a USA presence but build factories or plants elsewhere and then try to sell back here will be punished for that decision.’This tax will make leaving financially hard, but these companies are able to move between all 50 states, with no tax or tariff being charged.”Please be forewarned prior to making a very expensive mistake”, the president-elect tweeted.The message was hardly a surprise as it had always been part of Trump’s campaign platform. The president has broad authority to impose tariffs on specific categories of imported goods, but not to single out specific companies that make them, Hufbauer says.If Trump’s plans to revive manufacturing in the USA leads to a resurgence on American soil, Hayes said that is a good thing, and he believes Trump’s team will be focused on it.After publicly shaming Carrier Corp. throughout the presidential campaign, Donald Trump announced a deal on Thursday with the company’s parent to keep 1,000 jobs in IN in exchange for state tax breaks.The deal Trump and Pence reached with Carrier nets them $7 million in tax breaks over the next decade, money Pence could approve as in governor.”The president-elect will make those decisions on a day-by-day basis in the course of the transition, in the course of the administration”, he said on ABC’s This Week.His latest statement came days after announcing a controversial deal with Carrier to keep roughly 1,100 manufacturing jobs in the United States.Rexnord’s facility in Indianapolis, Indiana, is about a mile from the Carrier Corporation factory that Trump has made the showcase example of his agenda to preserve and restore domestic manufacturing jobs. Okay, then. I’m sure the media will give blanket coverage when those jobs go.Although some details behind the deal remain unclear, the state of IN offered Carrier $7 million IN tax subsidies over 10 years to stay. Conservative commentator Sarah Palin, a one-time Republican vice presidential nominee, said the administration was unfairly “favoring one business over another”.He claimed he had tried to convince the firm to not move so many jobs to Mexico.”Companies are not going to leave the United States anymore without consequences”.Mr. Trump sent a tweet Friday about Rexnord, charging that it was “rather viciously firing” workers and vowing “No more!””Politicians picking and choosing recipients of corporate welfare [are] railed against by fiscal conservatives, for it’s a hallmark of corruption”.Donald Trump had a stern warning to companies thinking of leaving the United States during his Sunday morning Twitter tirade.”I just want to let all of the other companies know that we’re going to do great things for business”.

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