United States President Elect - Donald Trump

Trump warns US companies going offshore with consequences

President-elect Donald Trump threatened that US companies would face dire consequences for outsourcing jobs abroad or to offshore units. This came after he celebrated the decision of the company to reverse its decision of shutting down a furnace plant and moving to Mexico, therefore keeping almost 1100 jobs in Indianapolis.

Setting the pace for an unusual level of intervention by the White House into a private enterprise, Trump said “companies are not going to leave the United States anymore without consequences. Nope, not going to happen” on a visit to a Carrier Corp plant in Indianapolis on Thursday, reported NDTV.

According to an agreement which is yet to be finalized, Carrier would in all probability receive a $7 million tax incentive package by the state of Indiana in exchange of making a $16 million investment in the facility. However, Trump claimed that the amount would probably be higher.

Trump categorically warned that businesses that decide to go abroad will be penalized through a border tax on imported goods.

 

Image source: Wall Street Journal

Story source: NDTV

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