Trump Admin wants companies to stay in US, rebuild economy

Washington: Upping the ante against American companies outsourcing jobs overseas, President-elect Donald Trump's transition team has made it clear that the new administration will make it more desirable for companies to stay, create jobs in the country, pay taxes and rebuild the economy.

"The Trump Administration will reverse decades of policies that have pushed jobs out of our country. The new Administration will make it more desirable for companies to stay, create jobs here, pay taxes, and rebuild our
economy," the presidential transition team announced in a brief policy paper on trade reform on Friday.

"Our workers and the communities that support them will thrive again, as more and more companies compete to set up manufacturing in the US, to hire our young people and give them hope and a real shot at prosperity again," it said.

"America will become, once more, a destination for jobs, production and innovation and will once more show economic leadership in the world," the policy brief said.

Observing that free trade is good as long as it is fair trade, it said American workers are the best in the world.

Trump Admin wants companies to stay in US, rebuild economy

A file photo of Donald Trump. AP

"On a level playing field, we can compete, and win. Yet, too many American jobs have been lost over the last decade because of trade deals that do not put Americans first," it alleged.

Factories have closed and jobs have moved overseas because the government has imposed crushing regulations and taxes, while it negotiated trade deals that incentivised American companies to make things abroad, where environmental and labor protections are minimal and wages are low," the transition team said.

Asserting that Americans deserve a reliable and efficient transportation network, the transition team said the Trump Administration seeks to invest USD 550 billion to ensure it can export goods and move people faster and safer.

"We will harness technology and make smarter decisions on how we build and utilise our infrastructure. Our roads, bridges, airports, transit systems and ports will be the envy of the world and enhance the lives of all Americans. We will build the roads, highways, bridges, tunnels, airports, and railways of tomorrow," it said.

Noting that federal policy should focus on free enterprise, while protecting consumers by policing markets for force and fraud, the transition team said both Wall Street and Washington should be held accountable.

"The Dodd-Frank economy does not work for working people. Bureaucratic red tape and Washington mandates are not the answer. The Financial Services Policy Implementation team will be working to dismantle the Dodd-Frank Act and replace it with new policies to encourage economic growth and job creation," the transition team said.

The transition team said regulatory reform is cornerstone of the Trump Administration, and the effort will include a temporary moratorium on all new regulation, canceling overarching executive orders and a thorough review to identify and eliminate unnecessary regulations that kill jobs and bloat government.

"The Trump Administration is committed to regulatory reform that will produce sensible regulations that allow America to be great," the transition team said.

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Updated Date: Nov 12, 2016 13:28:30 IST

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