Posted on 04/11/2020 6:32:07 AM PDT by SeekAndFind
Call the moving company, Washington’s picking up the tab.
The same day Japan announced that it would spend upwards of $2.2 billion to get its corporations out of China and either back home or spread throughout southeast Asia, White House National Economic Council Director Larry Kudlow said the U.S. should “pay the moving costs” of every American company that wants out of China.
“I would say, 100 percent immediate expensing across the board for plant, equipment, intellectual property, structures, renovations... In other words, if we had 100 percent immediate expensing, we would literally — literally pay the moving costs of American companies,” Kudlow said on the FOX Business Network's America Works Together Town Hall which aired on Thursday.
The Japanese government announced that it would provide direct loans 220 billion yen ($2 billion) for companies shifting production back to Japan and 23.5 billion yen for those seeking to move production to other countries, according to details of the plan posted online.
Kudlow told one of the people in attendance, who had asked about America’s over-reliance on China, what could be done to change the commercial relationship post-pandemic.
Kudlow said that one way was to provide them with moving cost payments, though he did not get into specifics.
Most U.S. companies that manufacturer in China do not have their own greenfield assembly line. For example, Apple AAPL has long used Foxconn, a Taiwanese multinational with massive assembly plants in mainland China. Other U.S. companies simple contract Chinese firms to do the work, whether they’re making kitchen cabinets for Lowes or pots and pans for KitchenAid.
In other words, it is not a matter of putting widgets and office furniture in a pod and shipping it across the Pacific Ocean.
(Excerpt) Read more at forbes.com ...
Is the Maytag factory in Newton, Iowa still empty? Room for someone there, and I suspect, an eager work force who used to make Maytag machines for many, many years.
They’re going to move...to India.
Always note that many items will say:
Packed in the USA without saying where it comes from.
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