The Swiss drugmaker Roche has said it will put $50bn into manufacturing in the US over the next five years, joining the queue of companies unveiling investments to try to head off potentially punitive tariffs.
Roche said the investment would create more than 12,000 jobs, including 6,500 in construction and 1,000 at new and expanded existing facilities in the US, including factories and distribution centres in Kentucky, New Jersey and California.
Switzerland has a 10% tariff, which is on track to rise to 31% when the 90-day pause Trump announced earlier this month comes to an end. The pharmaceutical industry is bracing for sector-specific tariffs after Trump last week announced a 21-day investigation last week under the Trade Expansion Act, widely considered the first step towards levies on imports.
They're idiots if they build in Commiefornia. Shows they didn't do their research. Better to go to Nevada or Texas. Or maybe newscum is bribing them with taxpayer money.
ReplyDeleteAnd 4 years hence the Dems have spun up the fear and hate machine to full bore and slither back into the WH. They declare all the tariffs that Trump put on, as well as the many from Obama and Biden, are null and void and issue apologies daring to cross our competitors. Foreign companies pull back to home shores, or more likely to places that treat workers like crap and pay peanuts, and tariff the crap out of US goods, and the Dems strut like roosters crowing that they achieved some sort of grand goal, especially that they stuck it to Trump era policies. Meanwhile US workers and companies suffer, and those same people elect and re-elect the people who flail them with the whip of Political Reliability. We of the sensible folks have to ensure that does not happen.
ReplyDelete"Roche said the investment would create more than 12,000 jobs", all old FDA insiders I assume.
ReplyDeleteJust what democrats don't want. Good jobs for people gives them financial independence and ends their reliance on handouts from the leftist Deep State.
ReplyDeleteI understand they are re-opening the campus in Nutley NJ for generics production.
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