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Trump slaps 35% Tax on Firms outsourcing!
By: Tupaki Desk | 5 Dec 2016 9:10 PM IST
President-elect Donald Trump pledged to create jobs for all the Americans during his aggressive poll campaign. He now focusses on the implementation of his poll promise even before his swearing-in ceremony.
Trump made it clear his Government would substantially slash the taxed and ease regulations on the businesses in United States. He, however, wants to levy 35% tax on those companies which fires it employees, builds a new factory or plant in other countries and those encouraging outsourcing. He warns those US Companies manufacturing products in other nations and selling them in his country will face consequences.
The Real Estate Tycoon didn't spare China as well. He went on to say devaluing Chinese currency to make it hard for US Companies to compete, Imposing higher tax on US Products going into China and building a massive military complex in the South China sea is impossible.
Trump made it clear his Government would substantially slash the taxed and ease regulations on the businesses in United States. He, however, wants to levy 35% tax on those companies which fires it employees, builds a new factory or plant in other countries and those encouraging outsourcing. He warns those US Companies manufacturing products in other nations and selling them in his country will face consequences.
The Real Estate Tycoon didn't spare China as well. He went on to say devaluing Chinese currency to make it hard for US Companies to compete, Imposing higher tax on US Products going into China and building a massive military complex in the South China sea is impossible.