Domestic 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 g

Domestic 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.