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Trump vows punitive tax for firms that move jobs overseas


economy

Trump vows punitive tax for firms that move jobs overseas

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U.S. president-elect Donald Trump says his country is open for business but any company that moves its factories overseas will be punished with a 35 percent tax on its products.

In a series of tweets on Sunday, Trump said these firms should be warned before making a “very expensive mistake.”

Trump campaigned on a pledge to help blue-collar workers while cutting taxes and red tape for companies.

Last week, his team announced a controversial deal with the air conditioning group Carrier to keep around 1,000 jobs in Indiana that were set to move to Mexico.

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