Politics: Trump’s Push to Bring Back Jobs to U.S. Shows Limited Results - PressFrom - US
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PoliticsTrump’s Push to Bring Back Jobs to U.S. Shows Limited Results

17:06  13 august  2019
17:06  13 august  2019 Source:   nytimes.com

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Donald Trump promised to be the greatest jobs -producing president in history. Will his policies really bring back American jobs ? What happens if Trump dumps NAFTA? The resultant higher tariffs will increase prices for imports from Mexico on such goods as oil, fruits, and manufactured goods almost

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WASHINGTON — From tax cuts to relaxed regulations to tariffs, each of President Trump’s economic initiatives is based on a promise: to set off a wave of investment and bring back jobs that the president says the United States has lost to foreign countries.

Trump’s Push to Bring Back Jobs to U.S. Shows Limited Results© Anna Moneymaker/The New York Times The nonprofit Reshoring Initiative found fewer than 30,000 jobs that companies said they would relocate to the United States because of President Trump’s tariffs.

“We have the greatest companies anywhere in the world,” Mr. Trump said at the White House recently. “They’re all coming back now. They’re coming back to the United States.”

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Trump will focus on specific companies bringing jobs to America or outsourcing but will probably avoid talking If those numbers continue to show improvement than the US economy will start improve and you will Look, at some point you will have to accept that Trump bringing jobs back is a good thing.

Donald Trump is touting another economic win, claiming credit for thousands of jobs he says will return to the U . S . in the early days of his administration. They are bringing them back to the United States," Trump said during brief comments to reporters at his Mar-a-Lago Resort home in Florida

Mr. Trump’s tax cuts unquestionably stimulated the American economy in 2018, helping to push economic growth to 2.5 percent for the year and fueling an increase in manufacturing jobs. But statistics from the government and other sources do not support Mr. Trump’s claim about his policies’ effectiveness in drawing investment and jobs from abroad.

Foreign investment in the United States grew at a slower annual pace in the first two years of Mr. Trump’s tenure than during Barack Obama’s presidency, according to Commerce Department data released in July. Growth in business investment from all sources, foreign and domestic, accelerated briefly after Mr. Trump signed a $1.5 trillion tax-cut package in late 2017 but then slowed. Investment growth turned negative this spring, providing a drag on economic output.

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U . S President-elect Donald Trump said on Wednesday wireless carrier Sprint Corp ( S .N) will bring 5,000 jobs back to the United States and OneWeb, a new company, will be hiring 3,000 people. No matching results for ''.

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In Mr. Trump’s first two years in office, companies announced plans to relocate just under 145,000 factory jobs to the United States, according to data and modeling by the Reshoring Initiative, a Washington nonprofit group. That is a record high in the group’s data, which dates back to the late 1980s, but it adds up to less than one month of average job gains in the United States in its decade-long expansion. More than half of those jobs — about 82,000 — were announced in 2017, before Mr. Trump’s tax cuts took effect.

Trump’s Push to Bring Back Jobs to U.S. Shows Limited Results© Albert Cesare/The Cincinnati Enquirer, via Associated Press Senator Sherrod Brown, Democrat of Ohio, said, “We’re sensing and seeing a betrayal of workers and promises broken over and over again.”

Moreover, the Reshoring Initiative data show fewer than 30,000 jobs that companies say they will relocate to the United States because of Mr. Trump’s tariffs on imported steel, aluminum, solar panels, washing machines and a variety of Chinese goods. Researchers at A.T. Kearney said last month that Mr. Trump’s trade policies, including tariffs, had pushed factory activity not to the United States but to low-cost Asian countries other than China, like Vietnam.

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We're bringing manufacturing jobs back to the United States "big league," says President Trump , meeting with auto executive at the White House. Experience special sneak peeks of your favorite shows , exclusive video and more.

President-elect Donald Trump spoke briefly to reporters on Florida on Wednesday. He said Sprint is bringing 5,000 jobs back to the United States, while OneWeb will be hiring 3,000 people. And also one web 3000 jobs to do company and it was done through Masa and terrific guy.

Manufacturers of primary metals, which include steel and aluminum, have added fewer than 15,000 jobs since Mr. Trump took office, with more than half of those gains coming before Mr. Trump imposed tariffs on foreign-made metals last year.

Now manufacturing is struggling amid a global slowdown and fallout from the trade war, which Mr. Trump has escalated by imposing additional tariffs on Chinese goods and by labeling China a “currency manipulator.”

A May report by researchers at the International Monetary Fund concluded that the investment impact of the tax bill “has been smaller than would have been predicted based on the effects of previous U.S. tax-cut episodes” and that the strongest effects on investment were likely to have shown up in the first year after the law was enacted. Morgan Stanley’s Business Conditions Index shows companies’ plans for new investment plummeted this summer.

The tax law reduced the corporate income-tax rate to 21 percent from a top rate of 35 percent, and it overhauled the way the United States taxes multinational companies. Data show those changes have encouraged multinational companies to shift hundreds of billions of dollars in profits to their American operations, essentially for accounting purposes, through a process known as repatriation.

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Mr. Trump often cites repatriation figures as if they reflected direct investment in the United States. That’s wrong, said Brad Setser, a senior fellow at the Council on Foreign Relations who tracks international investment flows.

Commerce Department statistics show that the repatriated funds came mainly from low-tax countries like Ireland and Bermuda, where companies had booked profits to minimize tax liability, and not from China or other economic competitors like Japan.

That flow of money “doesn’t mean all that much,” Mr. Setser said. “You’re not in any way seeing a shift in real activity back to the United States.”

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Related: Carrier: Trump gave us state 'incentives' to save jobs . Trans-Lux' s manufacturing legacy is Bringing back production to the U . S . could have advantages beyond reducing costs. Last week, Trump helped strike an agreement to keep about 800 factory jobs at a Carrier plant in Indianapolis

President Donald Trump salutes his supporters at a political rally at Charleston Civic Center in Charleston, West Virginia, on August 21, 2018. MANDEL NGAN/AFP/Getty Images. Blair Zimmerman, another former miner, also pushed back against Trump ' s claims.

Researchers from Wall Street financial firms and the Federal Reserve have concluded that companies used repatriated funds mostly to buy back stock.

Administration officials contend that those selling shares will soon invest their proceeds from the buybacks into start-ups, business expansions or other forms of economic activity.

The officials also assert that tariffs are helping to create jobs. Commerce Secretary Wilbur Ross told a conference in Washington last month that the positive effects of Mr. Trump’s steel and aluminum tariffs “can be measured on the factory floor.”

Jim Lentz, who oversees North American operations for the Japanese automaker Toyota, has cited the company’s plans to invest $13 billion in American operations over the next several years.

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Trump repeatedly promised to bring jobs back to the U . S . from China and Mexico during his campaign. His plan for his first 100 days in office calls Trump ' s presidency comes at a tough time for China. The country is undergoing a massive shift of its own from manufacturing to a more service and

Even before Trump was sworn in as president, he touted his success at bringing jobs back to the Although the announcement coincided with President-elect Trump ’ s push to return manufacturing to the Subsequent negotiations resulted in 1,100 jobs remaining in the U . S . Perks for Carrier to stay

“Thank you, Mr. President, for having such a strong economy for allowing us to be able to do that,” Mr. Lentz said at the White House last month.

At a summit meeting in June, Prime Minister Shinzo Abe of Japan handed Mr. Trump a chart showing Japanese investments in the United States that would yield just under 22,000 new jobs.

While Mr. Trump hailed the figures, Commerce Department data show that the rate of Japanese investment growth in the United States has slowed under Mr. Trump, compared with Mr. Obama’s second term. And companies like Toyota have warned that the president’s determination that foreign autos pose a national-security threat and may be subjected to tariffs could discourage additional investment.

On another front, administration officials point to companies like Mylan and Allergan — which had moved their corporate addresses overseas in a process known as inversion but recently said they would return to the United States — as a sign of success for the tax law. Larry Kudlow, the director of the National Economic Council, said last week that “you’re seeing American firms move back.”

When a CNBC interviewer said the Mylan and Allergan moves would not bring back manufacturing jobs, Mr. Kudlow agreed. But he said, “You’re also going to have factories moving back in from other places around the world, including China.”

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limit my search to /r/politics. use the following search parameters to narrow your results Not only that, but they've also shown their commitment to science via new projects in space, in the ocean If Trump cared about bringing jobs back to the US he would buy American steel, make his labeled

Mr. Setser said he was surprised that relatively few pharmaceutical companies were moving plants and activity back to the United States from countries like Ireland or Switzerland. Pharmaceutical imports from those countries actually rose in 2018, he noted.

Harry Moser, the founder and president of the Reshoring Initiative, praised Mr. Trump’s efforts to bring jobs and investment back to the United States, but said the president’s trade fights appeared to have undercut those efforts last year.

“We are pleased with the over 50 percent surge in reshoring jobs announced in 2017 and the record number of companies announcing reshoring jobs in 2018,” said Mr. Moser, whose group advocates measures to bring back five million factory jobs.

But he said efforts to draw investment and jobs to the United States were less successful in 2018 than 2017 because of a stronger dollar, which makes American products more expensive in foreign markets, as well as “uncertainty from the tariffs, dysfunction in Washington and the increasing skilled-work-force shortage.”

Mr. Trump won office by tapping into frustration among working-class voters in traditional manufacturing states where economists say up to 2.5 million jobs were lost to Chinese competition in the century’s first decade. Senator Sherrod Brown of Ohio, an industrial state that Mr. Trump carried easily in 2016, said some workers there were growing disillusioned over the president’s failure to deliver jobs to replace those in shuttered factories like the General Motors plant in Lordstown.

“We’re sensing and seeing a betrayal of workers and promises broken over and over again,” said Mr. Brown, a Democrat.

Mr. Brown has proposed several bills that he says would reverse the outflow of jobs, including tax incentives for companies that invest in the United States and pay workers well. Mr. Moser said the aim could be furthered by investment in skills development for manufacturing workers and by the weakening of the dollar — both policies that Mr. Trump has pushed.

Heart-breaking new picture of emaciated elephant shows the beast who is forced to parade in costumes by her Sri Lankan owners 'close to death'.
Tikiiri, a 70-year-old female elephant, looks very frail, broken and so thin you can see her bones through her flesh, as she is sprawled on the floor in near Kandy, in Sri Lanka.

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