Categories: Business

Trump threatens to shift its business from China to India, says new tax


Trump to charge new tax on companies manufacturing outside US, including Apple

Washington President Donald Trump has threatened to impose new taxes on American companies such as Apple, preparing to move its manufacturing business from China to countries like India and Ireland. Trump said in an interview with Fox Business News that companies were given tax incentives to bring their manufacturing businesses back to the US.

He said that Apple has said that now they are going to go to India. They are going to move some production from India to China. He said that if they do, then you understand that we will give a little shock to Apple because they are competing with a company that was part of the business deal we did. So this is a bit unfair for Apple, but we will not allow it now. If we close our borders like other countries, Apple will make 100 percent of its products in the US.

According to the New York Post, Apple is transferring a large part of its production from China to India. The supply chain of many tech companies manufacturing there was disrupted after a deadly corona virus epidemic surfaced in China. Trump said that these companies have to understand, because they are not just going to China. You see where she is going, she is going to India, she is going to Ireland and she is going everywhere, she will make them.

He said that in such a situation, you do not think that something needs to be done in terms of incentives. Trump said I would do that. Trump said the point is clear, when they make the product out, taxing it is a measure. We do not need to do much for them. They have to do it for us. Trump said he wanted to bring manufacturing back to the US.

This post was published on May 15, 2020 2:58 pm

Content Team

Recent Posts

Former RBI Governor Raghuram Rajan expressed apprehension of increasing NPA, D Subbarao gave this suggestion to the government

Photo: GOOGLE NPAs may witness unprecedented increase in 6 months, says Raghuram Rajan new Delhi. Former Reserve Bank Governor Raghuram…

wipro q1 consolidated net profit flat at Rs 2390 crore

Photo: WIPRO Wipro q1 result new Delhi. Consolidated Net Profit of information technology company Wipro grew marginally to Rs 2,390.4…

YES Bank garners Rs 4500 Crore from anchor investor

Photo: PTI yes bank new Delhi. Private sector Yes Bank raised Rs 4,500 crore from anchor investors on Tuesday ahead…