White House officials favor giving tax incentives to companies to move to the US. USA
WASHINGTON: One of the main economic advisers to the President of the USA. USA Donald trump On Friday, he favored giving tax incentives to US companies to move their economic base from China to the United States, amid a new crack in the bilateral relationship on Beijing's handling of the coronavirus crisis.
The United States has expressed disappointment with China's handling of the coronavirus pandemic that has claimed 87,530 lives in the United States. China has also been accused of stealing intellectual property and investigative work.
The United States and China earlier this year signed Phase 1 of a trade agreement, ending a two-year tariff war that rocked the world economy.
It's not a policy yet, but we want to make the United States the most attractive place to work, White House National Economic Council director Larry Kudlow said Friday, amid reports that several companies are seeking to move their base from manufacturing. from China.
I believe in rewarding, not punishing, so my thinking is in addition to 100 percent total capital spending, why not provide a 50 percent discount to the corporate tax rate if you move out of the United States. to the United States? , he said.
Kudlow suggested reducing the corporate tax from the current 21 percent to 10.5 percent.
Why not try for a couple of years or more a 10.5 percent rate that would make us extremely competitive and hospitable for new investments here or moving expenses, not just the full 100 percent expense, but we could also add some help, Kudlow said.
That is another thought to help you come here. In other words, I want to reward, not punish. Those are options. Those are options. Again, this is pre-decisional; these are just things that we are seeing internally, he said. .
On Thursday, a senior U.S. senator unveiled an 18-point plan, including improving military ties with India, to hold the Chinese government accountable for its lies, deceit, and cover-ups that led to the global COVID pandemic- 19.
President Trump has been pressing China to accept an investigation into the origin of the virus, including the accusation that it emerged from a biological laboratory in Wuhan. It has threatened to cut off the entire relationship with China.
China has denied the United States' accusation of covering up the scope of its coronavirus outbreak, and accused the United States of trying to divert public attention by insinuating that the virus originated from a virology laboratory in Wuhan.
China was the first country to report COVID-19 to the World Health Organization (WHO), (and) that does not mean that the virus originated in Wuhan ... There has never been any concealment, and we will never allow any concealment, Chinese Foreign Ministry spokesman Zhao Lijian said last month.
A discerning person will understand at a glance that the purpose is to create confusion, divert public attention and evade responsibility, he said.
The new coronavirus that originated in the Chinese city of Wuhan last year claimed 307,666 lives and infected more than 4.5 million people worldwide, according to data from Johns Hopkins University.
The United States is the most affected country with 87,530 deaths and more than 1.4 million infections reported so far.