Trump says will create tax incentives for companies bringing jobs back to US from China

US President Donald Trump on Monday (local time) 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.

US President Donald Trump on Monday (local time) said his administration will create tax incentives for compes to bring jobs back to the United States, including from China, and penalise those compes who take jobs out of the country.

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

The US President also threatened to strip compes 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 swing states coincides with the Democratic National Convention when his opponent Joe Biden will formally become the party's presidential candidate. (/Sputnik)

( With inputs from ANI )