Volatile Policy Stalls US Aim to Lure Business Tax Refugees Back

At the beginning of his second term, President Donald Trump and congressional Republicans talked about giving US companies with a large overseas presence every reason to come back.

The American economy was bereft, they said, and new tax cuts coupled with less red tape would bring back intellectual property, research, factories and jobs. Republicans passed a $3.4 trillion tax law with generous business incentives, and the Trump administration sought to exempt US companies from a 15% global minimum tax.

The tax benefits are piquing companies’ interest, of course. But to many, the volatility of the Trump administration that has flip-flopped ...