Here's why the Trump administration could start paying businesses to pull out of China:
Subsidies, tax breaks and a $25 billion “reshoring fund” are just some incentives being drawn up by U.S. lawmakers to lure American companies away from supply chains in China, as the coronavirus pandemic highlights U.S. reliance on China for food and medical supplies.... [+]President Trump’s long-held desire to refocus U.S. manufacturing is coming into sharp focus as the election looms, while the pandemic has renewed interest in bringing key manufacturing back to the U.S.
This includes investment subsidies, banning the sale of sensitive goods to China, and raising taxes on the income that American companies make in the world’s second-largest economy.
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Why The Trump Administration Could Start Paying Businesses To Pull Out Of ChinaI am a breaking news reporter for Forbes in London, covering Europe and the U.S. Previously I was a news reporter for HuffPost UK, the Press Association and a night reporter at the Guardian. I studied Social Anthropology at the London School of Economics, where I was a writer and editor for one of the university’s global affairs magazines, the London Globalist. That led me to Goldsmiths, University of London, where I completed my M.A. in Journalism. Got a story? Get in touch at isabel.togohforbes.com, or follow me on Twitter bissieness. I look forward to hearing from you.
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