Trump again vows to bring back U.S. jobs, but offers few details | Reuters
By David Shepardson and Ginger Gibson | WASHINGTON WASHINGTON President Donald Trump told about two dozen chief executives of major U.S. companies on Thursday he plans to bring millions of jobs back to the United States, but offered no specific plan on how to reverse a decades-long decline in factory jobs.In his first month in office, Trump has pressured a number of U.S
By David Shepardson and Ginger Gibson
WASHINGTON President Donald Trump told about two dozen chief executives of major U.S. companies on Thursday he plans to bring millions of jobs back to the United States, but offered no specific plan on how to reverse a decades-long decline in factory jobs.In his first month in office, Trump has pressured a number of U.S. companies to hire in the United States but he has yet to publicly propose legislation tackling the big economic issues he campaigned on in 2016, including a job-boosting tax or infrastructure program. He will address a joint session of Congress on Feb. 28.In a meeting with the CEOs at the White House, Trump said the United States had lost about one-third of manufacturing jobs since it joined the North American Free Trade Agreement in 1994 and asserted about 70,000 factories have closed since China joined the World Trade Organization 16 years ago. But the Bureau of Labor Statistics says the number of private sector manufacturing facilities in the United States has fallen less than that, from nearly 400,000 in 2001 to 344,000 last year.
Lower wages, automation, foreign competition and other factors account for the steep decline in manufacturing jobs, experts say. Trump has promised to roll out a series of proposals that he says could have favorable ramifications for companies, including a plan to overhaul the tax code and an infrastructure package that was part of his 2016 presidential campaign promises. He has declined to specify what he had in mind.
A former CEO himself in his first public office, Trump has convened a series of such meetings with leaders from several industries, including pharmaceutical, automotive and aviation makers. He campaigned in last year's election as a business-savvy leader who can create millions of jobs.Trump met last week with CEOs from large retail companies, all of whom oppose a House of Representatives Republican-backed plan to create a border adjustment tax as part of a tax code overhaul.
Several of the CEOs who met Trump on Thursday are part of a coalition that supports the border adjustment tax, which would impose a 20 percent tax on goods that are imported into the country while providing write-offs for goods that are exported.Participants on Thursday included CEOs from General Electric Co, Lockheed Martin Corp, Dow Chemical Co, International Paper Co, Ford Motor Co, United Technologies and Dell Technologies Inc, Johnson & Johnson, Corning Inc, Whirlpool, Emerson, Campbell Soup Company, Merck & Co Inc, Caterpillar Inc, 3M Co, U.S. Steel Corp, Archer Daniels Midland Corp and General Dynamics Corp. (Reporting by David Shepardson and Ginger Gibson; Editing by Howard Goller and Alistair Bell)
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By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.