Lets say there are two competing companies USAMicrochip and IndiaMicrochip. Before Obama both companies paid 35% tax on American operations and 10% tax on Indian operations. The field was level.

Under Obama new rules both companies will again pay 35% tax on American operations, and in India

USAMicrochip will pay 35% tax (10% to Indian government and 25% to Obama)

IndiaMicrochip will pay 10%.

Question: which company wins Indian market of microchips?