Trump warns US firms relocating abroad

US President-elect Donald Trump on Friday warned US firms of “consequences” if they relocate abroad and promised to slash 35-15 per cent tax to make America attractive for businesses.

“Companies are not going to leave the US any more without consequences. Not going to happen. It’s not going to happen, I’ll tell you right now,” Trump said, as he visited a plant of leading air conditioning manufacturer ‘Carrier’ in Indiana where he announced that he has struck a deal with the company to change their plan to relocate to Mexico and saved over 1,100 jobs in the process.

Trump said he called the top leadership of Carrier to make the deal happen. 

“We’re losing so much. So one of the things we’re doing to keep them is we’re going to lowering our business tax from 35 per cent, hopefully down to 15 per cent, which would take us from the highest-taxed national virtually in the world – this is terrible for business – to one of the lower taxed. Not the lowest yet, but one of the lower taxed,” he said.