Manufacturers are split on Democrats' get-tough trade plan

By USA Today

Aug 03, 2017

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U.S. manufacturers gave mixed reviews to Democrats’ new bare-knuckled trade proposals that aim to protect American workers and crack down on businesses that move overseas.

Among other ideas, the blueprint would impose a 35% tax on companies that move their headquarters abroad and make it easier to penalize China for manipulating its currency to gain a trade advantage. Additional provisions include eliminating tax deductions for the cost of moving U.S. production overseas and providing a tax credit of up to 20% to companies that relocate production and jobs back to the U.S.

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