MANKATO, MINNESOTA/WASHINGTON (REUTERS) - US President Donald Trump on Monday (Aug 17) vowed to create 10 million jobs in 10 months, in part by setting up tax credits for US companies that relocate manufacturing facilities to the United States from China.. Read more at straitstimes.com.
MANKATO, MINNESOTA/WASHINGTON - US President Donald Trump on Monday vowed to create 10 million jobs in 10 months, in part by setting up tax credits for US companies that relocate manufacturing facilities to the United States from China.
"We will create tax credits for companies that bring jobs from China back to America," Trump said during an hourlong speech. He also predicted the US economy would bounce back strongly from the economic shock caused by the coronavirus pandemic - as long as he was re-elected. Trump hailed increased retail sales in recent months. But data released last week showed US retail sales increased less than expected in July as consumers cut back on purchases of motor vehicles. They could slow further in the months ahead amid spiraling new Covid-19 infections and a cut in unemployment benefit checks.
At the time, the administration is using"Buy America"requirements and incentives to persuade US firms to bolster domestic supply chains, especially for critical supplies, such as drugs and medical equipment.
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