WASHINGTON - US President Donald Trump threatened on Thursday that if he's re-elected, he'll impose tariffs on US companies that refuse to move jobs back to the country from overseas.
"We will give tax credits to companies to bring jobs back to America, and if they don't do it, we will put tariffs on those companies, and they will have to pay us a lot of money," Mr Trump said during a campaign event in Pennsylvania.He offered no explanation about how such a system of tax credits and tariffs would work, and it isn't clear if the White House is developing such a policy.
"The beauty of the Trump tariffs is that they represent a powerful inducement for investment in domestic production by both American companies that have offshored our factories and foreign companies that want to sell into the US market," Trump trade adviser Peter Navarro said in a statement, without addressing whether a new policy is in the works.
"We have seen this lesson time and again during this administration with the steel and aluminium tariffs, with the threat of auto tariffs, and with the China tariffs," he said."Tariffs mean more American jobs and factories." Mr Trump's remarks came during a more than hour-long speech intended to rebut former Vice-President Joe Biden's acceptance of the Democratic nomination for president later Thursday. Biden was born in Scranton, near the borough of Old Forge where Trump spoke.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »