I see other factors....
- Lower labor costs.
- Local manufacture is often required by the country to do business there.
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Trump announces 35% tax on companies leaving US
- Thread starter Sultan Of Swing
- Start date
- Lower labor costs.
- Local manufacture is often required by the country to do business there.
kaoticprofit
Active Member
Agreed. We haven't moved the maple trees to Mexico or China yet. We still have hope!
No, China has offsetting disadvantages.....
- Cubcontractor corruption/cheating.
- Higher transportation costs.
- Slower response to market changes.
- Quality issues.
Skwim
Veteran Member
Reduce taxes and regulations on businesses!
Why shouldn't I benefit from being President?
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Why shouldn't I benefit from being President?
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Sultan Of Swing
Well-Known Member
And the main crux of it, the 35% tax on businesses leaving the US, what do you think of that?
Reduce taxes and regulations on businesses!
Why shouldn't I benefit from being President?
.
Twilight Hue
Twilight, not bright nor dark, good nor bad.
I agree. Bandaid measures don't address and correct the systemic causes.
Trump demonstrates that he has no understanding of international trade. He will learn that this is not possible.
I don't think that the WTO or Congress will agree to it. And Trump will just change his mind after mucking things up a bit.
Tom
Sultan Of Swing
Well-Known Member
Because he can't just stick tariffs on imported goods on a whim.
Tom
Sultan Of Swing
Well-Known Member
I understand it may need congressional approval, and perhaps the rollback/amendment of things like NAFTA, but otherwise I don't see why not. And what's the WTO gonna do if they object? And why would the WTO object? It's not like the US has no tariffs whatsoever on anything
Congress isn't much interested in antibusiness whims. And the WTO can impose additional sanctions to protect the countries that Trump is starting the trade wars with.
Tom
He would end up starting a trade war with the entire world. This would be disastrous for the U.S. and cost hundreds of thousands of jobs. And then when he tried to negotiate new trade deals he would be starting out from the position of someone who does not respect trade deals, that is a very disadvantageous position to be in. It just won't work. People in the U.S. government who understand this will not allow Trump to do this. The corporations who buy government officials will not allow this to happen.
Trump thinks he can make a distinction between an American company leaving for a foreign country, and a company that formed in a different country. Corporate lawyers (international corporate lawyers) will make it impossible for him to make that distinction.
Just watch, this will not happen.
It's just like making Mexico pay for the wall. It's stupid and impossible but it plays well with his base. His supporters eat that stuff up.
Tom
Most companies that move offshore are international already. It's not like a person who owns a couple of restaurants, or a housing construction firm, or local law firm, etc., would be able to relocate. It's big companies that look for profits by going "offshore."
It's amazing how quickly Trump supporters stop talking about Trump and start talking about Obama or Clinton.
Tom
HonestJoe
Well-Known Member
This doesn't seem like a very well thought out policy. In a world of multi-national corporations and webs of mergers and parent companies, I think it would need a lot of carefully planned and worded legislation to have anything like the kind of effect we can only assume he's after and there is still going to be controversies and loopholes.
I'd see the biggest problem is that very uncertainty, given that he seems unlikely to expand on this thought and if anything concrete is going to come of it, that wouldn't be for months, even years. And uncertainty isn't good for business....
Skwim
Veteran Member
I agree with colombus: I don't think Congress would agree to it. And Trump will just change his mind after mucking things up a bit.
Trump's head is still spinning with the fact that he is expected to actually know whereof he speaks, which is something he never had to bother with on the campaign trail. He's a fish out of water and is just beginning to realize it. He can't just **** up, declare bankruptcy, and then walk away. My honest expectation is that he will never finish out his first year on the job.
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I think what you people did was vote for "Hope and Change", with a new coat of red paint.
Tom