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White House Doesn’t Plan Import Tax, Official Says, Contradicting Trump [Bloomberg Business News]

TWENTY-FIRST CENTURY FOX (FOX)  More Company Research Source: Bloomberg Business News
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PDF The Trump administration has no formal proposal on the table for a so-called reciprocal tax on imports, according to a U.S. official who sought to clarify whether a levy that risks escalating tensions with key trading partners would be enacted. The clarification came Monday after President Donald Trump had said earlier in the day that his administration was planning to enact a levy on imports from other countries at the same rates those countries impose on U.S. products. “We’re going to be doing very much a reciprocal tax,” Trump said at a White House event on infrastructure. “And you’ll be hearing about that during the week and during the coming months.” Later in the day, the official said there is no proposal for such a tax in the works and the president was simply reiterating sentiments he has long held. Trump is scheduled to meet with lawmakers Tuesday to discuss trade issues. Proposals to tax imports were fiercely debated early last year as the admi [Read more]

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