Will give tax incentives to companies bringing jobs to US from China: Trump

President Donald Trump speaks with reporters before departing on Marine One on the South Lawn of the White House, in Washington. Photo: PTI
US President Donald Trump on Monday said his administration will create tax incentives for companies to bring jobs back to the United States, including from China, and penalise those companies who take jobs out of the country.

"We will create tax credits for companies that bring jobs from China back to America and will impose tariffs for companies that leave America to produce jobs overseas," Trump said during his trip to Mankato, Minnesota.

The US President also threatened to strip companies of federal contacts if they outsource manufacturing abroad.

Trump spoke for almost an hour at an event that resembled his election rallies in which he made pledges for the possible next four-year term. His trip over several states coincides with the Democratic National Convention when his opponent Joe Biden will formally become the party's presidential candidate.

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