Companies plan to continue shifting supply chains out of China under Biden or Trump, says PwC exec

"Unfortunately, the pandemic has slowed down our ability to move into Malaysia, so that's going to move into [2021] before we get it done."

Ryan said PwC's survey found slightly more executives were worried about trade tensions with China under Trump, compared with under Biden. However, almost 30% of respondents said they "strongly agree" that trade restrictions on China will be intensified no matter who wins. Biden, the former vice president under President Barack Obama, currently leads Trump by 7.9 percentage points in an average of national polls"I see the China-U.S. relationship still being very important. It's a major market, and so we do see investment there," said Ryan. "But on a relative basis, we're seeing U.S. companies planning to spread that out more, and that's a trend that's been underway for the last couple years that we expect to continue.

Another finding from PwC's survey is that regardless of the election outcome, 70% of business leadersto increase to help pay for the trillions of dollars in coronavirus stimulus. Trump's signature tax law lowered the rate from 35% to 21%. Biden has called for it to be raised to 28%. "One of the careful things we have to balance here, we clearly have a need to make sure we pay for the stimulus. We clearly have a need to make sure we don't leave people behind, but in the same token, we can't lose the competitiveness of U.S. businesses because that does mean jobs," Ryan said.

24/7 ayn rand virgin tech gap drakes constant alpha display threat clutch unrelenting attack of opportunity outburst hold Libra Scorpio Pen Bell 10 Car Regan 24 1987 Rabbit Eclipse Art of Sun War Sacrificial Lamb Wolf Ygg Alpha Meta Page Firing CEH

Why covid19 was needed to realize the outsourcing is the long lasting ...but still, just a suicide!

Buy American Made!

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trump links Biden to China via son Hunter’s ex-business partnerBefore the final US presidential debate, Trump's campaign introduced Tony Bobulinski to the crowd – who said he was a former business associate of Joe Biden's son and had evidence against the family
Source: trtworld - 🏆 101. / 63 Read more »