United States-based companies paid a whopping $370 billion in taxes to governments across the world in 2024, the Trump administration has confirmed......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
Director of the National Economic Council, Kevin Hasset addressed reporters at the White House during a briefing which coincided with President Donald Trump’s first month in office.
Flanked by press secretary, Karoline Leavitt, national security adviser, Mike Waltz, and deputy chief of staff, Stephen Miller, Hasset said his office has had a lot of trade talks.
The official noted that the reciprocal tariffs approved by President Trump were in full force.
This means the U.S. would generate more income through taxes in the fiscal year.
“Reciprocal trade is about our government treating other governments the way they treat us. We want trade to be fair,” the director said.
“It turns out that Americans have been disadvantaged by foreign governments over and over, and President Trump wants it to stop.
“Last year, we have data, U.S. companies paid $370 billion in taxes to foreign governments; $370 billion! Last year, foreign multinationals paid us $57 billion in taxes.
“We have one-quarter of world GDP, they have three-quarters of world GDP, and we’re paying $370 billion, they are paying $57 billion. This is not reciprocal, we’re going to fix it,” Hasset vowed.