Hedge Funds

Billionaire Peltz says Trump tax plan will bring companies back to the US, boost jobs

Peltz: There's a difference between global companies and outsourcing

Billionaire investor Nelson Peltz said Monday that President-elect Donald Trump's proposed tax plan should bring companies back to the United States.

Under the proposals, "we will have more employment, more companies coming back to the U.S.," Peltz said on CNBC's "Squawk on the Street."

Peltz, chief executive officer and a founding partner of Trian Fund Management, said he spoke with Trump after the election.

Trump has called for cutting the business tax rate to 15 percent from 35 percent, and he says he wants a one-time 10 percent tax rate on repatriated corporate profits that are now held offshore.

However, Trump has also been outspoken against several existing trade policies. Over the weekend, he threatened in a tweet to impose a 35 percent tax on products sold in the U.S. by any domestic business that moved operations overseas.

"People are confused. There's a difference between a global company and a company that's outsourcing," Peltz said.

Peltz, an independent director of Mondelez, said since the majority of the company's sales come from outside the country, "there's no way that we're not going to have people employed outside of America."