Trump Pledges Tax Credits, Tariffs to Redirect Jobs from China
“President Donald Trump said he’ll punish American companies that move jobs abroad and reward firms with tax breaks for shifting work from China to the U.S., proposals aimed at hastening the decoupling of the world’s largest economies. “We will create tax credits for companies that bring jobs from China back to America, and we’ll impose tariffs on companies that leave America to produce jobs overseas,” he said in a speech Monday in Minnesota.”
U.K. End to Pandemic Aid Pushes Employers to Adapt or Fade Away
“The U.K. is entering a critical phase in the coronavirus crisis that could shape the future of its economy long after the pandemic is gone. Employers are anxiously awaiting to see whether mounting pressure on Chancellor of the Exchequer Rishi Sunak will force him to reverse course on plans to phase out wage-support programs. That would echo a proposal this week by Germany, where the finance minister wants to extend support to 24 months.”
Japan Sees Record Economic Slump with Recovery Hinging on Virus
“Japan posted a record economic contraction in the second quarter, with recovery prospects now hinging on how quickly an uptick in virus infections can be contained. The world’s third-largest economy contracted an annualized 27.8% in the three months through June from the previous quarter as a state of emergency and lockdowns in the country’s major export markets hammered consumer spending, production and exports.”
Analyst Certification -This research report is for information purposes only and should not be construed as a recommendation. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.