Autoworkers union cheers Trump's 'aggressive' tariff actions

[Phoenix61]

22. Factories in PA we're shuttered because it was

cheaper to build new factories over seas than to update the old factories here. The US tax code had a lot to do with that. When corporate taxes were high companies looked for right offs, capital expenditures and salaries fit the bill. Lower taxes and it’s cheaper to just pay the taxes and run the factory into the ground. Significantly raising taxes on all overseas profits would encourage those companies to come back home without screwing US consumers. Structure the taxes so the more they invest in the new factories here the less they pay on overseas profits. It’s extremely doable.
I’ll add, look at what Japan has done in the steel industry.