Business

Donald Trump has invited countries to invest in the United States to take advantage of reduced taxation, while threatening to impose additional tariffs on those who decline.

Speaking from the White House during the Davos Forum in Switzerland, the U.S. president urged nations to support the American economy by relocating their production to the United States.

"Come make your product in America, and we will give you among the lowest taxes of any nation on earth. But if you don’t make your product in America, which is your prerogative, then very simply, you will have to pay a tariff — differing amounts — but a tariff, which will direct hundreds of billions of dollars and even trillions of dollars into our treasury to strengthen our economy and pay down debt under the Trump administration," he said.

The president highlighted the attractive corporate tax rate, which he suggested could be reduced to as low as 15% for products manufactured on U.S. soil.

Donald Trump has already proposed universal tariffs of around 20%, but he has also suggested even higher duties for Canada and Mexico, reaching up to 25%.

(QG - Source: Newsweek / Picture: © Pixabay)