President Donald Trump’s tax reform plan is making it more attractive for foreign companies to do business in the U.S., Italian businessman and author Gianluca Mech told FOX Business.
Continue Reading Below
With more than 40,000 pharmacies worldwide, Gianluca Mech S.p.A. is looking to bring its brand to New York City.
“It’s very attractive now, the American market, America in general, thanks to the cut of the taxes. People want to come here to invest, and these policies are very good for the economy,” Mech, the CEO of his namesake company, said during an exclusive with FOX Business’ Liz Claman.
The “Trump effect” has taken hold at the World Economic Forum in Davos, Switzerland, before the arrival of the president, as several European bank leaders have reportedly said they plan to move more of their operations from the United Kingdom to the U.S.
Gianluca Mech S.p.A., which manufactures medical and diet products, plans to open its flagship store in one of the highest-taxed cities: New York.
“New York also is important because there is a very big, a very large Italian community and it was important for me to start here,” Mech said.
The GOP tax reform bill and recent signs of economic growth are encouraging the “pharmacy king of Italy” to invest in the U.S.
“The tax plan is a big attraction, instead of going to Monte Carlo, all the company come here, and that’s natural. If you [raise] the taxes, people go away to invest,” Mech said.