Trump promises ‘consequences’ for companies that ship jobs out of U.S.

Meanwhile, more than half of the jobs that Carrier had meant to move to Mexico are still going to be lost, and the tariff that Trump had threatened to impose transformed this week into a tax cut-an incentive, basically, to keep the jobs in Indiana. Carrier company officials said in a statement Thursday that the state of in, where Vice President-elect Pence is governor, offered the company a $7 million package over multiple years, contingent on factors including employment, job retention and capital investment.

This past February, United Technologies announced that beginning next year it would shut down two factories in IN run by its Carrier division, a manufacturer of air conditioners and heating equipment – one in Indianapolis employing 1,400 workers and another in Huntington employing 700.

Trump’s use of a very real bully pulpit seems to unsettle WSJ because, as they point out, “United Technologies also gets about 10% of its revenue from sales to the Pentagon, another source of government leverage”.

During his victory lap in Indiana, Trump made a point to refer to Cornett as “handsome”, in the process praising his mother, who was in attendance during the speech.

In other words, more Carrier jobs will head elsewhere than are staying in the U.S.

As Mr Trump proclaimed companies would not leave the United States anymore, in IN alone, at least 3,660 people will lose their jobs because business is being moved overseas, according to a Reuters analysis of Labor Department filings. “We have no idea who they are, where they come from, what they’re thinking and we’re going to stop that dead, cold flat”, he said.

Some economists and Democrats have downplayed the importance of Trump’s actions. Trump would need to “make 804 more announcements just like that” to equal what Obama did, Earnest said.

“Every single day, you will be the agents of change, change for our country, but good change, great change”, Mr. Trump said at a postelection rally in Ohio. “Trump made a promise that he would save all of these jobs, and we can not rest until an ironclad contract is signed to ensure that all of these workers are able to continue working in IN without having their pay or benefits slashed”.

House Speaker Paul Ryan says he and Donald Trump have moved beyond their disagreements during the presidential campaign. Carrier, which had planned to shift production to Mexico, will receive at least $7 million in financial incentives from Indiana.

President-elect Donald Trump greets attendees after speaking during an event at Carrier Corp.in Indianapolis on Thursday. “I said Carrier will never leave”, he said.

“A mercantilist Trump trade policy that jeopardized those exports would throw far more Americans out of work than the relatively low-paying jobs he’s preserved for now in Indianapolis”.

“We tried not to do it, obviously”, he said.

“If he can do it through tax incentives where companies are building plants in the US because they get a good tax deal, then he won’t have to do it company by company, which I think is very unrealistic”, he told Morning Edition this week.

On Wednesday, Trump said he would nominate former Goldman Sachs banker Steven Mnuchin to lead the Treasury Department. He was insisting on very steep tariffs for companies like Carrier that left the United States and wanted to sell their foreign-made products back in the United States. Instead of a damn tax, the company will be rewarded with a damn tax cut. Wow! Trump said Thursday that amount would likely be higher.

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