On Thursday, President Donald Trump threatened to impose new taxes on American companies that produce goods outside the United States, another move his administration could make to push supply chains away from China and raise new trade barriers.
Trump said in a Fox Business Network interview that taxation was an “incentive” for companies to return manufacturing to the United States. He did not specify whether these would be new across-the-board tariffs or another form of taxes, which would require an act of Congress.
“You know, if we wanted to put up our own border, like other countries do to us, Apple would build 100 percent of their product in the United States. That’s the way it would work,” Trump said.
U.S. officials say that Trump’s administration is “turbocharging” efforts to push companies to move production of away from China, partly as a way to punish Beijing for its early handling of the coronavirus outbreak.
MacDailyNews Note: Trump talks about Apple, China, and taxes and more in the full interview:
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