Trump Proposes Tax Incentives and Deregulation for Companies Moving Operations to the U.S.

September 25 :
If elected on November 5, Donald Trump has promised a number of reforms, such as reduced taxes and fewer regulations, to entice international businesses to move their operations to the US. During his speech in Georgia, the Republican presidential candidate stated that the benefits would only be extended to corporations who brought their manufacturing operations to the United States and employed American workers.

In my ideal world, automakers in Germany would merge with their American counterparts. What Trump really wants is for them to establish their plants here. Trump then alerted international businesses: "If you don't make your product here, then you will have to pay a tariff, a very substantial tariff, when you send your product into the United States."

Trump was making his remarks in the city of Savannah, which is home to a major port and an automotive manufacturing center in the United States. Trump has pledged to provide tax benefits to American manufacturing, including a one-year write-off of heavy machinery costs and reductions on R&D expenditures.

Trump threatened on September 23 to impose a tax of 200 percent on farm equipment manufacturer John Deere's U.S. imports unless the business canceled its planned transfer to Mexico. In the last months of his campaign against Democratic candidate Vice President Kamala Harris, Trump has made the preservation and creation of American manufacturing jobs his major economic pitch, pledging to impose massive tariffs on allies and enemies alike.

Mainstream economists unanimously agree that Trump's plans would increase consumer inflation, despite the fact that he and his supporters argue that trade barriers are essential to safeguard American industry. Both the specific government properties that would be given to foreign firms and the mechanics of such an arrangement remain unknown under Trump's plan. Foreign enterprises operating on federally owned land may, in principle, be excused from paying property taxes.

A reduction in corporate tax rates for domestic manufacturers is something Trump has promised again and again. Earlier last month, the ex-president announced his intention to reduce the tax for domestic producers from 21% to 15%. On Wednesday, Harris, who is now trailing Trump in the polls, will introduce a package of new economic policies in Pennsylvania. some of the suggestions will have a more general goal of assisting Americans in becoming and staying wealthy.