U.S. President-elect Donald Trump took to Twitter early Sunday morning to promise a heavy tax for businesses that move their factories out of the United States and on to foreign soil.
“Any business that leaves for another country, fires its employees, builds a new factory or plant in the other country and then thinks it will see its product back into the US without retribution is WRONG,” he wrote.
The US president-elect took aim at the auto industry and others and promised a 35 per cent tax on those companies who decide to relocate outside the US.
It remains to be seen how such a tariff would or if it could legally be implemented but he promised leaving the U.S. would be an expensive mistake before declaring, “THE UNITED STATE IS OPEN FOR BUSINESS.