President Donald Trump has sent a clear and simple message to international companies and businesses concerning their productions.
In an address to the media, Trump told global business owners to either manufacture their products in the United States and enjoy low tariffs or produce them in their countries and pay high import tariffs.
He issued this subtle warning in a videoconference from Washington to the World Economic Forum in Davos, Switzerland.
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“My message to every business in the world is very simple: come make your product in America and we will give you among the lowest taxes of any nation on earth,” Trump told a panel of business executives.
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“But if you don’t make your product in America, which is your prerogative, then very simply, you will have to pay a tariff,” Trump said. “Differing amounts, but a tariff which will direct hundreds of billions of dollars and even trillions of dollars into our Treasury to strengthen our economy and pay down debt.”
Trump has proposed a 15% corporate tax rate for companies that manufacture in the U.S., subject to approval from Congress.
Reactions followed his statement. See a few below;
maryannquinn wrote; “Unfortunately, all of the people who voted for him have no idea that they’ll be paying the price.”
will_p wrote; “This is quickly turning into a dictatorship where the government (Trump) is stripping us of our freedoms. This is terrifying”
paullanb wrote; “And who pays that tariff? US! The consumers! You are quite literally the worst president in U.S. history. Regan was bad but you take the cake.”
