Donald Trump to charge tax on companies manufacturing outside US

Washington: President Donald Trump has threatened to slap new taxes on American companies like Apple to dissuade them from moving their manufacturing bases from China to countries like India and Ireland instead of the US amidst the COVID-19 pandemic.

In an interview with Fox Business News, Trump said that taxation was an incentive for the companies to return manufacturing bases to the US.

“Apple said now they’re going to go to India. They’re going to do some production in India away from China,” he was asked.

“If they do, you know, we gave Apple a little bit of a break because they’re competing with a company that was a part of a trade deal that we made. So it was a little bit unfair to Apple, but we’re not allowing this anymore. You know if we wanted to put up our own border like other countries do to us, Apple would build 100 per cent of their product in the United States. That’s the way it would work,” he said.