• World News
  • Politics
  • Stock
  • Investing
  • Editor’s Pick
Time And Sales Reporter
Politics

Chip Roy follows Trump’s lead with bill to ‘beat China’ on trade

by April 3, 2025
April 3, 2025

A key House Republican lawmaker is moving to bring more manufacturing back to the U.S. after President Donald Trump unveiled sweeping tax penalties on imports.

Rep. Chip Roy, R-Texas, policy chair of the House Freedom Caucus, introduced a bill Thursday aimed at providing tax incentives to companies that move their supply chains to the U.S. – so long as their output levels stay consistent in the move.

Roy told Fox News Digital he specifically had China in mind when crafting the legislation.

‘China is angling to surpass the United States as the world’s leading superpower, both politically and economically. If we want to preserve our strength and freedom as a nation, we cannot rely on adversaries like the Chinese Communist Party (CCP) to keep our shelves stocked and our economy prosperous,’ Roy said.

‘There is no time to waste. Congress must act swiftly and collaborate with the Trump administration to revise the tax code to incentivize the reshoring of foreign manufacturing to the United States. The BEAT CHINA Act will do just that, and I look forward to working with House leadership on this important matter.’

Trump’s plan involves a 10% blanket tariff on all imports into the U.S., as well as reciprocal tariffs ranging between 10% and nearly 50% on both adversaries and allies – though in most cases, the U.S. rate is lower than the foreign country’s.

‘April 2, 2025, will forever be remembered as the day American industry was reborn. The day America’s destiny was reclaimed. And the day that we began to make America wealthy again,’ Trump said in remarks announcing his plan Wednesday.

The plan levies a 34% reciprocal tariff against China specifically, compared to the 67% in tariffs that Beijing has slapped on Washington, according to White House data.

Roy’s legislation would affect leases and purchases of commercial space, making companies eligible for bonus depreciation by making non-residential real property purchases by qualifying manufacturers considered 20-year property instead of 39-year property.

It would also allow companies to exclude gains earned from selling off assets in their country of origin from gross taxable income, among other provisions.

This post appeared first on FOX NEWS
previous post
Democrat rep vows to work with Trump on key part of tariff plan: ‘Hoping that I can help’
next post
Trump’s Tariffs Aren’t Reciprocal and Are a Massive Tax Increase on Americans

Related Posts

US sanctions money laundering network aiding Iran as...

June 7, 2025

Supreme Court rules DOGE can access Social Security...

June 7, 2025

Trump announces China will restart rare earth mineral...

June 7, 2025

TSA tells Americans their Costco cards won’t fly...

June 7, 2025

Musk feud presents ‘unprecedented’ dynamic compared to past...

June 7, 2025

Musk unleashes wild Epstein claim against Trump after...

June 6, 2025







    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.




    Recent Posts

    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring

      June 7, 2025
    • Silver’s Surge is No Fluke—Here’s the Strange Ratio Driving It

      June 7, 2025
    • Everyone Talks About Leaving a Better Planet for Our Children: Why Don’t We Leave Better Children for Our Planet?

      June 7, 2025
    • Big Rally Ahead Should Yield All-Time High on This Index

      June 7, 2025
    • Your Weekly Stock Market Snapshot: What It Means for Your Investments

      June 7, 2025
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 timeandsalesreporter.com | All Rights Reserved

    Time And Sales Reporter
    • World News
    • Politics
    • Stock
    • Investing
    • Editor’s Pick

    Read alsox

    House GOP’s budget impasse thaws just as winter...

    February 13, 2025

    Musk says DOGE set to top $150B in...

    April 10, 2025

    White House says it didn’t create a banned...

    March 18, 2025