On Thursday, President Donald Trump said that if he is elected again in November, he will be imposing tariffs on all the United States companies that refuse to move back jobs to the nation from overseas.
Experts say that Trump moved the speech towards another direction to rebut former Vice President Joe Biden’s acceptance of the Democratic nomination.
With this, the President did not offer any explanation on how the system is going to impose such a system of tariffs and tax credits. After this, experts say that they are in doubt if the Trump administration is developing such a strategy or not.
Earlier during a campaign rally in Pennsylvania, President Trump said- “We will give tax credits to companies to bring jobs back to America, and if they don’t do it, we will put tariffs on those companies, and they will have to pay us a lot of money,” Source: Live Mint.
Further, President Trump said- “So what are they going to do? They are going to bring the jobs back,” Source: Live Mint.
On the existence or plans of the new policy regarding this, Trade adviser of President, Peter Navarro said- “The beauty of the Trump tariffs is that they represent a powerful inducement for investment in domestic production by both American companies that have offshored our factories and foreign companies that want to sell into the U.S. market,” Source: Live Mint.
Navarro gave this statement without addressing if this policy exists in words or not.
Further, he said- “We have seen this lesson time and again during this administration with the steel and aluminum tariffs, with the threat of auto tariffs, and with the China tariffs,” Source: Live Mint.
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