7Free trade bites the bullet
With Trump seeking to tax companies for outsourcing work to overseas countries like India, Singapore, and Australia, to name a few – the current tax proposals would do little to prevent companies from seeking alternative options in order to remain competitive. The recent slew of executive orders that Trump had signed, will have the desired effect of making US companies and even US universities less attractive, and will hit them hard where it counts the most, their bottom line..
While the current H – 1B visa regulations and new orders will seek to limit the entry of new talent into mainland US, at the same time, the current proposals to tax US companies by fifteen percent for outsourcing and an additional twenty percent for importing goods and services from overseas will push most to relocate entirely. From a simple read of the latest proposal, it seems that US consumers may have to pay more when ordering items manufactured in other countries which kind of begs the question, “is trump trying to undermine global trade altogether?”.