Tags: donald trump | companies | outside the us | move | factories

Trump: Companies That Leave the US Will 'Get Penalized Severely'

Trump: Companies That Leave the US Will 'Get Penalized Severely'
President Donald Trump (AP)

By    |   Tuesday, 10 October 2017 10:07 AM

President Donald Trump on Tuesday threatened to penalize companies that move out of the United States and look to sell their product in the U.S. market.

"I also have another bill . . . an economic development bill, which I think will be fantastic," Trump told Forbes in an interview published Tuesday morning. "Which nobody knows about. Which you are hearing about for the first time . . . Economic-development incentives for companies. Incentives for companies to be here."

He added that companies that move operations overseas "get penalized severely."

It's both a carrot and a stick," Trump said. "It is an incentive to stay. But it is perhaps even more so — if you leave, it's going to be very tough for you to think that you're going to be able to sell your product back into our country."

The president, a Republican, also said he's "very comfortable" with his plan to have the government punish companies if they choose to locate factories and offices in other countries where it would be cheaper for them to operate.

"What I want to do is reciprocal," he said. "See, I think the concept of reciprocal is a very nice concept. If somebody is charging us 50 percent, we should charge them 50 percent. Right now they charge us 50 percent, and we charge them nothing. That doesn't work with me."

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President Donald Trump on Tuesday threatened to penalize companies that move out of the United States and look to sell their product in the U.S. market.
donald trump, companies, outside the us, move, factories
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2017-07-10
Tuesday, 10 October 2017 10:07 AM
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