Trump Will Decide ‘Day by Day’ on Intervening With Companies, Pence Says

In a six-tweet diatribe sent just before 7 a.m., President-elect Donald Trump proposed a 35 percent tariff on goods imported to the United States by American companies that took their factories and jobs overseas.

During a barrage of early morning tweet Sunday, Trump warned of “retributions or consequences” for companies that move factories offshore.

Either way, look for firms to adopt a hot new business model: Whenever a company seeks to profit from outsourcing a certain number of jobs, announce its decision to send four times that many out of country. Trump campaigned on the idea that the immediate worries of blue collar American workers were being overlooked in favor of the capitalistic traditions Summers discussed.

“Today’s announcement is possible because the incoming Trump-Pence administration has emphasized to us its commitment to support the business community and create an improved, more competitive USA business climate”, it said in a statement.

Many economists and investors optimistic about Trump’s plan focus on the “carrot” part: the potential for big tax cuts and a roll back in regulations on businesses.

It just remains to be seen if or how Trump can make it happen.

Poffenbarger continued, saying he saw it as an example of the types of economic policies Trump will promote when he takes office January 20.

Numerous opponents of the 35% tax include conservatives, who argue that Trump is picking winners and losers.

The Republican, who takes office on January 20, warned on Thursday of consequences for companies that move jobs out of the United States but did not specify what they would be. And because taxes can not be directed at specific companies, any tariffs would have to be broad, and therefore broadly painful. He has threatened a 35 per cent tariff on such companies.

It remains unclear to what extent that threat and the state incentives played in Carrier’s decision to keep some jobs in Indianapolis.

While Trump is being criticized for handing out $7 million in tax breaks to United Technologies, by keeping jobs in IN, has nonetheless begun to make good on an election promise.

Details of how much all that will cost state taxpayers are still scarce, too.

It’s also unclear how such a tax would be enforced.

When President-elect Donald Trump and Vice President-elect Mike Pence traveled to Indianapolis on Thursday to formally announce a deal with the Carrier Corporation to keep 1,100 jobs in Pence’s home state, Trump called it “a wonderful win”.