Trump orders U.S. firms to move out of China
President Donald Trump has threatened to slap new taxes on American companies like Apple to dissuade them from moving their manufacturing bases from China to countries like India and Ireland instead of the US amidst the COVID-19 pandemic. Trump stated if U.S. companies like Apple plan to shift their manufacturing units from China to India or Ireland, taxation is the only way which will help them to return their base to U.S. “One incentive, frankly, is to charge tax for them when they make products outside. We don't have to do much for them. They have to do it for us,” Trump said. Trump said that he wants to bring manufacturing back to the US.
Tags : INTERNATIONAL China India COVID-19 pandemic Trump U.S. firms President Donald Trump