Trump vows tax of 35 percent for US business going overseas

December 5, 2016

President-elect Donald Trump said Sunday that he’ll slap a 35 percent tax on U.S. companies that move jobs or operations to other countries — days after announcing a controversial deal with Carrier to keep roughly 1,100 manufacturing jobs in the United States.

Trump, a prolific tweeter with about 15 million followers, needed six posts, each limited to 140 characters, to get out his message.

“The U.S. is going to substantially reduce taxes and regulations on businesses,” Trump tweeted. “But any business that leaves our country for another country, fires its employees, builds a new factory or plant in the other country, and then thinks it will sell its product back into the U.S. without retribution or consequence, is WRONG!

“There will be a tax on our soon to be strong border of 35% for these companies … Please be forewarned prior to making a very expensive mistake! THE UNITED STATES IS OPEN FOR BUSINESS.”

The string of tweets follow Trump’s announcement last week that he had reached a deal with the Carrier furnace and air-conditioning manufacturer to keep the jobs in Indiana, instead of moving them to Mexico where labor costs are significantly less expensive.

6 Comments - what are your thoughts?

  • justinwachin says:

    Tariffs have been placed on imported products for years. Most of these were eliminated by free trade agreements. Maybe it’s time to considering putting them back in place. We should tax those who game the system by exporting our jobs and import products.

    The Carrier deal was nice to see, but do we really want the President to spend most of his term playing Let’s Make A Deal with each company that threatens to move jobs out of the country? I’m going to guess the line of takers will get rather long as we see other companies follow Carrier’s lead.

    1. NM Leon says:

      Most of the countries we have “free trade” agreements with have VAT taxes that they reimburse for exports, in effect a government subsidy for their products.

      On the other hand a tariff is a tax on us, the consumer, so…

      Tough problem, but I suspect Trump has a pretty good understanding of it.

    2. Bettyejmorgan says:

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  • Tiger says:

    Good and he is right. America stopped making things, stopped growing our food, we send our fish and our food overseas, how stupid is that. We don’t make cars anymore, we buy steel from other countries when we have our own, we buy aluminum when we have our own, we buy oil when we have our own, what the Hell. We are a rich country, blessed with mountains, rivers, streams, everything we need to actually be self sustainable. Globalization has taken all countries down the road to being Third World. With the EU telling Europe what to do and the UN telling America what to do and I remember NAFTA.

    I remember when American products and American grown food began disappearing from our shelves. Time to get this Great Show on the road and run the UN and the world out of our business. Sure we can trade and we won’t pull away from the world but nobody will tell us what to do.

    1. Rodney Steward says:

      And even Budweiser sold out to another country and that sux, I sure miss those great commercials!! Glade to see Italy boot out their Obama, and are looking to also leave the EU, things are looking up my Tiger friend!! Morning, and ROOOOLLLL TIDDDE!!!!!! 🙂 🙂

      1. Tiger says:

        Amen my friend the world is alive and well and had enough. Good for all of us.

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