(MENAFN) As a necessary move after the halt of the US Export-Import bank, additional American corporations are bearing in mind to move their factories overseas.
Companies have already started, such as General Electric (GE) which has announced plans to build a USD400 million plant in Europe, Boeing is also expected to join in soon.
Additionally, GE will shift up to 500 US power turbine manufacturing jobs to Europe and China, while Boeing still hasn't announced any specific plans, according to its Chairman.
This start initiated by these two giants is just the start, as many businesses are expected to follow including smaller companies, as stressed by the Aerospace Industries Association.
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