US move to repatriate booming American companies from China

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New delhi date. 16 May 2020, Saturday

After the coronavirus-related situation, US companies operating in China have shifted from China to other countries, including India, and have poured oil on the US and offered tax incentives to US companies if they set up their plants in the US.

A top adviser to US President Donald Trump has called for tax relief for American companies if they return home.

As trade tensions between China and the United States escalate after the spread of Covid-12, the United States has resorted to austerity measures against China.

"We do not currently have such a policy, but we want to make the United States an attractive place to work," White House National Economic Council Director Larry Cudlow told reporters.

The statement came amid reports that a number of companies were seeking to pull out of China, a report said.

He suggested reducing the corporate tax from the current 21 per cent to 10.50 per cent. "If we can be competitive, why not try a rate of 10.50 per cent for a few years," he said. There is a different idea to attract companies here. I don’t want to punish them but to encourage them.

Coronavirus trade relations between China and the United States, which began to improve after two years of tension, have resurfaced.

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