PROTECTIONISM

Trump: 35 Percent Tariff for Companies That Ship Jobs Overseas

In a series of tweets early Sunday morning, President-elect Donald Trump warned U.S. companies that ship jobs overseas that they would face a 35 percent tariff. “Any business that leaves our country for another country, fires its employees, builds a new factory or plant in the other country, and then thinks it will sell its product back into the U.S. without retribution or consequence, is WRONG!” he wrote in a series of tweets. “There will be a tax on our soon to be strong border of 35 percent for these companies wanting to sell their product, cars, A.C. units etc., back across the border.” In addition, Trump pledged to “reduce taxes and regulations on businesses.” Trump repeatedly promised throughout the campaign that he would work to ensure that companies do not leave the U.S. and take jobs with it.