Former U.S. President Donald Trump says "tariff” is his favorite word, campaigning for a return to the presidency on a bet that steep import levies will force manufacturers to move factories to the U.S.
That leaves some of the giant Asian firms that have already announced U.S. investments sweating on whether Trump will return to the White House and rip up the Biden administration’s tax breaks and subsidies that helped persuade them. Trump has criticized the Inflation Reduction Act as a "scam” and the CHIPS and Science Act as a bad deal.
Companies such as Toyota, Hyundai, Taiwan Semiconductor Manufacturing Co. and Samsung have been adding to their footprint in America to take advantage of the strong economy and cash in on Biden’s industrial incentives.
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