Trump promised to cut taxes and “lure” manufacturing enterprises back to the United States
U.S. President trump vowed on Monday to create 10 million jobs in 10 months, in part through a tax credit for companies that move manufacturing facilities back from China to the United States. In an attempt to win support ahead of the November 3 election, trump said during a visit to Mankato, Minnesota, “we will provide tax credits for companies that bring jobs back from China to the United States.” < / P > < p > “what we’re doing together is an economic miracle, and now we’re going to do it again.” “We built the greatest economy in the history of the world, and now I have to do it again,” trump told supporters Trump praised the growth in retail sales in recent months, but data released last week showed that U.S. retail sales grew less than expected in July as consumers cut back on car purchases. Novel coronavirus pneumonia infections will increase in the next few months, and the unemployment benefits will be reduced, which may further slow down. Trump said his tax cuts and other measures were strengthening the U.S. economy despite the outbreak. He also pointed out that the government plans to further tax cuts and reduce regulation to encourage more domestic investment, but did not give specific details. < / P > < p > in addition, the White House is using “buy American” requirements and incentives to persuade us companies to strengthen the domestic supply chain, especially key materials such as drugs and medical equipment.
