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How do you define "domestic"? Is it a company that earns the majority of its revenues in your country? That won't work because Toyota is certainly not an Americ
by cc439 9y ago
How do you define "domestic"? Is it a company that earns the majority of its revenues in your country? That won't work because Toyota is certainly not an American company but the US market represents the majority of their revenues. Is it a company that was founded in your country? That won't work because of companies like Airbus that are supranational in origin. Is it a company that is headquartered in your country? That won't work because a headquarters can be moved in a matter of months (look at how GE left CT for a more regional example).
- kobeya 9y agoDomestic has a technical meaning: a company registered in a US state. To do business in the US you have to spin up a US company. Toyota USA would be taxed for global Toyota income. You could try to mitigate that by saying these rules only apply to companies whose ownership or control structure is more than 25% american, directly or indirectly. But yeah, these side effects are part of why I say I don’t agree with such a proposal.