Trump to world companies: Make products in US or face tariffs
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US President Donald Trump addressing the World Economic Forum in Davos, Switzerland, via videoconference, on Jan 23.
PHOTO: AFP
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DAVOS, Switzerland - US President Donald Trump told the World Economic Forum on Jan 23 that businesses should make their products in the United States if they want to avoid facing a tariff.
Appearing in a videoconference with business leaders at the annual conference in Davos, Switzerland, Mr Trump said that companies should set up manufacturing operations in the US.
"My message to every business in the world is very simple, come make your product in America and we will give you among the lowest taxes of any nation on Earth."
"But if you don't make your product in America, which is your prerogative, then very simply, you will have to pay a tariff," Mr Trump said.
"Differing amounts, but a tariff which will direct hundreds of billions of dollars and even trillions of dollars into our Treasury to strengthen our economy and pay down debt."
Mr Trump began his presidency on Jan 20 without immediately imposing the tariffs he had promised voters, including a 10 per cent duty on global and 60 per cent on Chinese goods. But he said that Canada and Mexico faced a 25 per cent duty on Feb 1 on goods they ship to the US because of illegal immigration and illicit drug shipments across US borders.
Mr Trump on Jan 21 extended the Feb 1 deadline to China, threatening a 10 per cent duty, and said the European Union would also face tariffs.
“We’re going to be demanding respect from other nations.” REUTERS
