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.”
The U.S. is going to substantialy reduce taxes and regulations on businesses, but any business that leaves our country for another country,— Donald J. Trump (@realDonaldTrump) 4 December 2016
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. ……— Donald J. Trump (@realDonaldTrump) 4 December 2016
without retribution or consequence, is WRONG! There will be a tax on our soon to be strong border of 35% for these companies ……— Donald J. Trump (@realDonaldTrump) 4 December 2016
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.