Will give tax incentives to companies bringing jobs to US from China: Trump

The US President also threatened to strip companies of federal contacts if they outsource manufacturing abroad

US President Donald Trump on Monday said his administration will create tax incentives for companies to bring jobs back to the United States, including from China, and penalise those companies who take jobs out of the country.

"We will create tax credits for companies that bring jobs from China back to America and will impose tariffs for companies that leave America to produce jobs overseas," Trump said during his trip to Mankato, Minnesota.

The US President also threatened to strip companies of federal contacts