‘It’s Both a Carrot and a Stick.’ Trump Has a New Plan to Punish Companies That Outsource Overseas
U.S. President Donald Trump said he has prepared an “economic-development” measure that would punish companies that globally outsource jobs.
The bill would provide economic incentives for companies, Trump said in an interview with Forbes magazine published on Tuesday, and reward firms that maintain jobs in the United States, and deliver punitive measures against those that move operations offshore.
“It’s both a carrot and a stick,” Trump said. “It is an incentive to stay. But it is perhaps even more so--if you leave, it’s going to be very tough for you to think that you’re going to be able to sell your product back into our country.”
He did not specify what the rewards or punishments would be. The White House was not immediately available to comment.
Trump, a New York real estate developer reality television host, has struggled to translate his business experience into government success, failing to push through any major legislative victories.
The Trump administration has repealed a number of regulations, such as the Clean Power Plan, which was former President Barack Obama’s cornerstone regulation to fight climate change. The head of the U.S. Environmental Protection Agency said on Monday he would rescind the rules.