USA Scores Another One!

446 Views 3 Replies 2 Participants Last post by 68908, Dec 22, 2016

FrontSight

Discussion Starter · Dec 22, 2016

https://www.yahoo.com/news/china-tycoon-moves-jobs-us-citing-high-taxes-093204655--finance.html'

Shanghai (AFP) - A Chinese auto glass tycoon has caused a stir by shifting part of his empire to the United States and setting up a factory in Ohio, citing high taxes and soaring labour costs at home.

Cao Dewang's $600-million investment comes after Donald Trump threatened to declare Beijing a currency manipulator and slap 45 percent punitive tariffs on Chinese imports to protect American jobs.

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68908

· #2 · Dec 22, 2016

That's great, too bad we have to threaten tarrifs to do it.

Good on him for moving his operations here though.

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FrontSight

Discussion Starter · #3 · Dec 22, 2016

EJR914 said:
That's great, too bad we have to threaten tarrifs to do it.

Good on him for moving his operations here though.

Did you click on the link and read the article or just read the quote in the OP? Mr. Cao never said the threat of tariffs was the reason he was investing in Ohio, that statement was made by the author of the article.

Here is what Mr. Cao said:

Cao defended himself in an interview with the Beijing News Wednesday, saying he "did not run and will not run. The centre of my business is in China because I'm Chinese".

"I'm a business man and I'm doing business in the US," he said. "I'm merely reminding the government" that taxes and labour costs are too high.

In an interview with the state-owned China Business News last week, Cao said the country was home to the "world's highest taxes" and that the manufacturing industry suffered under taxes 35 percent higher than those imposed by the US.

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68908

· #4 · Dec 22, 2016

FrontSight said:
Did you click on the link and read the article or just read the quote in the OP? Mr. Cao never said the threat of tariffs was the reason he was investing in Ohio, that statement was made by the author of the article.

Here is what Mr. Cao said:

I know, the story just mentioned it happened, Good on him! We should applaud men like him. Real capitalist.

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