Trump Tells CEOs He Plans to Bring Back Mil­lions of Jobs

Ex­pected to roll out a se­ries of pro­pos­als that could have big ram­i­fi­ca­tions for cos, in­clud­ing a plan to over­haul the tax code & an in­fra­struc­ture pack­age that was part of his 2016 cam­paign

The Economic Times - - Around The World -

Wash­ing­ton: Pres­i­dent Don­ald Trump told about two dozen chief ex­ec­u­tives of ma­jor US com­pa­nies on Thurs­day he plans to bring many mil­lions of jobs back to the United States. T r u mp a l s o touched on his plan to de­port il­le­gal i mmi­grantstoMex­ico. Sec­re­tary of State Rex Tiller­son is in Mex­i­coon­whatTrump called a “tough trip”.

Par­tic­i­pants in­cluded CEOs f rom Gen­era l Elec­tric Co, Lock­heed Mar t i n C o r p , Dow Chem­i­cal Co,In­ter­na­tional Pa­per Co, Ford Mo­torCo,United T e c h nol o g i e s and Dell Tech­nolo­gies I nc, Joh nso n & John­son, Corn­ing Inc, Whirlpool, Emer­son, Ca mp­bel l Soup Com­pany, Merck & Co Inc, Cater­pil­lar Inc, 3M Co, US Steel Corp, Archer Daniels Mid­land Corp and Gen­eral Dy­nam­ics Corp. Trump is ex­pected to roll out a se­ries of pro­pos­als that could have big ram­i­fi­ca­tions for com­pa­nies, in­clud­ing a plan to over­haul the tax code that he has promised within weeks and an in­fra­struc­ture pack­age that was part of his 2016 pres­i­den­tial cam- paign prom­ises.

A former CEO him­self in his first public of­fice, Trump has con­vened a se­ries of such meet­ings with busi­ness lead­ers from sev­eral in­dus­tries, in­clud­ing phar­ma­ceu­ti­cal, au­to­mo­tive and avi­a­tion mak­ers. Trump met last week with a group of CEOs from large re­tail com­pa­nies, all of whom op­pose a House Repub­li­can-backed plan to cre­ate a bor­der ad­just­ment tax as part of a tax code over­haul. Sev­eral of the CEOswhome­tTrumponThurs­day are part of a coali­tion that sup­ports the bor­der ad­just­ment tax, which would im­pose a 20% tax on goods that are im­ported into the coun­try while pro­vid­ing write-offs for goods that are ex­ported.

On Thurs­day, the chief ex­ec­u­tives each at­tended one of four break­out ses­sions with Trump ad­min­is­tra­tion eco­nomic of­fi­cials to dis­cuss a va­ri­ety of top­ics in­clud­ing con­flict min­er­als reg­u­la­tions, lack of qual­i­fied work­ers, ex­port reg­u­la­tions for de­fense prod­ucts, vo­ca­tional train­ing and busi­ness taxes. White House spokesman Sean Spicer said on Wed­nes­day, “The pres­i­dent will meet with a group of world-class busi­ness lead­ers to dis­cuss spe­cific ac­tion he can take to re­move bar­ri­ers to job cre­ation.” Vice Pres­i­dent Mike Pence, Trans­porta­tion Sec­re­tary Elaine Chao, Treasu r y Se­cret a r y Steve Mnuchin and eco­nomic aides met with the CEOs.

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