Trump Threat to Biden's Industrial Policy Hangs Over Asian Firms [Financial Post (Toronto, Ontario, Canada)]
Toyota Motor Corporation (TM)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Donald Trump says “tariff” is his favorite word, campaigning on a bet that steep import levies will force manufacturers to move factories to the US. That leaves some of the giant Asian firms that have already announced US investments sweating on whether Trump will return to the White House and rip up the Biden administration's tax breaks and subsidies that helped lure them. The former President has criticized the Inflation Reduction Act as a “scam” and the CHIPS and Science Act as a bad deal. Companies such as Toyota Motor Corp., Hyundai Motor Co., Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. have been adding to their footprint in America to take advantage of the strong economy and cash in on Biden's industrial incentives. More than $110 billion in new greenfield investments into the US has been announced in each year since
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