Puerto Rico Eyes Chinese Investment via Tariff-Free US Trade

QIAN XIAOYAN

DATE:  NOV 19 2018

/ SOURCE:  YICAI

Puerto Rico Eyes Chinese Investment via Tariff-Free US Trade 



(Yicai Global) Nov. 19, 2018 -- Puerto Rico aims to leverage its position as an unincorporated US territory to encourage investment from Chinese companies seeking tariff-free entry into the American market.

Products from factories set up by Chinese companies in the Caribbean territory would enjoy the same rights as those set up in the US, Luis Fortuno, former governor of Puerto Rico, told Yicai Global in an interview at the 2018 Puerto Rico Investment Forum held in Shanghai on Nov. 14.

Figures from the territory's political and business fields recently came to China, hoping to attract Chinese companies to invest. The biggest advantage of investing in Puerto Rico for manufacturing firms in the tariff-free environment for locally produced goods shipped to the US, while the local tax rate is only four percent, Fortuno said.

The Commonwealth of Puerto Rico is an unincorporated territory of the US located in the northeast Caribbean Sea, about 1,600 kilometers southeast of Miami, Florida with San Juan as its capital.

Puerto Rico possesses great advantages in manufacturing and tourism investment since its investment preference bill and tax laws are independent of the US due to its special status, Fortuno said.

A Chinese company which sets up a plant in Puerto Rico would enjoy no tariffs when transporting goods to the US since it is equivalent to transporting from one state of the US to another, Fortuno told Yicai Global, adding that the place a great choice and attractive option for many Chinese manufacturing firms that rely on the US and Latin American markets.

Puerto Rico receives less federal funding than the US states though people there do not have to pay US federal income taxes. Ricardo Rossello, governor of Puerto Rico, declared the government's bankruptcy and applied for bankruptcy protection to the US federal court in May last year, which is the first time that a US overseas territory has gone bust. Hurricane Maria caused even greater losses for Puerto Rico in September last year.

The US government has invested considerable funds and has guided post-disaster reconstruction in recent years. The US Treasury Department announced on Oct. 19 that investors who provide funding for projects in underdeveloped regions will receive high tax breaks.

Sidney Powell to Newsmax TV: Dominion Designed to ‘Rig Elections’

 In building its case for multi-state audits of those relying on Dominion Voting Systems, the Trump legal team has a former Venezuelan official saying it was designed to rig elections, according to former federal prosecutor Sidney Powell on Newsmax TV.

“The math just doesn’t add up for anything and we know Dominion has a long history of rigging elections, because that’s what it was created to do to begin with,” Powell told Tuesday’s “Greg Kelly Reports,” noting even the “founder of the company admits he can change a million votes, no problem at all.”

Powell told host Greg Kelly the team has an affidavit of a former high-ranking Venezuelan military officer who now lives in America, saying he saw the rigging of Venezuelan elections for Hugo Chavez.

“So don’t tell me there’s no evidence of fraud,” she continued. “We’ve got increasingly mounting evidence of significant fraud across multiple states that casts into question the validity of elections in every swing state.”

It is not just limited to Nevada, Arizona, Michigan, Wisconsin, and Georgia either, she said. adding “it went beyond that, too.”

Powell said the ease of changing vote tallies and manipulating results was a “feature” of the devices, according to the military officer’s affidavit.

“It was created so Hugo Chavez would never lose another election, and he did not after that software was created,” Powell said. “He won every single election and then they exported it to Argentina and other countries in South America, and then they brought it here.”

Powell also argued, as a foreign company, the use of that election system already violated President Donald Trump’s order against foreign interference in our election.

“Our votes were eventually counted in Barcelona, Spain, or Frankfurt, Germany, on foreign servers,” Powell claimed. “It’s absolutely stunning.”

And that includes the Democrat and mainstream media’s efforts to ignore the corruption.

“What’s really stunning is the efforts against getting the stuff out on this,” she concluded. “But you have to realize every tech company, every media company, every social media company, scads of globalist corporations have been doing business in countries with these dictators that have been installed through this rigged election system for decades.”

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