Retail CEOs get Mnuchin into closed door meeting to lobby against import tax [CNBC]
JC PENNEY (JCP)
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Source: CNBC
Michael Nagle | Bloomberg | Getty Images Employees assist customers at the checkout counter of a J.C. Penney store. Chief executives from some of the nation's largest retailers are slated to meet with Treasury Secretary Steven Mnuchin on Tuesday for the first time, part of their ongoing push against the controversial border adjustment tax. About 10 executives will join the closed-door meeting with Mnuchin, including the leaders of familiar names such as AutoZone , JCPenney , PetSmart and Chico's . The industry has been leading the fight against the measure, which tax imports into the United States. Chain retailers argue that it would increase the cost of foreign products and devastate their profit margins. They say that would force them to raise prices, costing consumers $1,700 more each year. "There is no industry that wants tax reform more than retail," said Brian Dodge, a spokesman for the Retail Industry Leaders Association. "We a
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