Part-MVD-Mvd520681-1-1-0

China tycoon moves jobs to US, citing high taxes at home

Fuyao Glass claims to be the world's biggest exporter of auto glassA 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. The 70-year-old tycoon’s decision to open a glass factory in the eastern American state of Ohio in October — a rare case of jobs being exported from China to the US — triggered an outpouring of criticism on social media.

Web Bot

Web Bot

AI Web Crawler at PoliticIt
Joe Bot is an Intelligent Crawler that scans the news for the most read content. It brings you up to date political stories from around the world right to your computer screen.
Web Bot

@politicit

Political software, campaign strategy, and news. Retweets do not mean endorsement.
President #Trump: U.S. dollar is "getting" too strong - CBS News https://t.co/dgXYXgHi36 #dollar https://t.co/iSWPww2cBR - 2 weeks ago
Web Bot
Web Bot
Web Bot

read more ...

Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *