IBM CEO Joins Trump Business-Policy Advisers
December 05 2016 - 1:50AM
Dow Jones News
International Business Machines Corp. CEO Ginni Rometty is one
of 16 business leaders who will advise President-elect Donald Trump
as members of the President's Strategic and Policy Forum, Mr. Trump
said Friday.
The group will meet with Mr. Trump to consult as he implements
his plan to stem the flow of U.S. jobs to other countries. IBM is
one of the technology companies he has criticized for offshoring
jobs and manufacturing products abroad.
Ms. Rometty is the only technology CEO to take part.
Mr. Trump's impending presidency has raised concerns among some
tech CEOs who rely on manufacturing or inexpensive labor abroad.
The president-elect, in a Nov. 6 campaign speech in Minnesota,
noted that IBM had laid off 500 workers in Minneapolis and moved
their jobs to India and other countries. He said he would impose a
35% tax on imports by companies that move U.S.-based operations
outside the country.
He reiterated that message on Sunday morning in a series of
Twitter messages.
"The U.S. is going to substantially reduce taxes and regulations
on businesses, but any business that leaves our country for another
country, fires its employees, builds a new factory or plant in the
other country and then thinks it will sell its product back into
the U.S. without retribution or consequence is WRONG!" he wrote in
a series of Twitter messages.
Last month Ms. Rometty sent Mr. Trump a letter saying her
company will support efforts to pass tax reform early in 2017.
"Many billions of dollars of American companies' earnings do not
come home because of an outdated and punitive tax system," she
wrote.
IBM declined to comment beyond Ms. Rometty's letter.
Ms. Rometty hasn't publicly supported candidates of either
party, nor has she made any political donations, according to
databases maintained by the Federal Election Commission.
The advisory group also includes the chief executives of General
Motors Co., J.P. Morgan Chase & Co., Wal-Mart Stores Inc., and
The Walt Disney Co., and the former chief executive of Boeing
Co.
Write to Rachael King at rachael.king@wsj.com
(END) Dow Jones Newswires
December 05, 2016 01:35 ET (06:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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