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Friday, February 16, 2018

Trump threatens 'reciprocal tax' on imports to balance trade

President Trump on Monday said he plans to introduce a proposal in the coming weeks for a reciprocal tax on imports, fulfilling a promise he made early on in his presidential campaign.

"We cannot continue to be taken advantage of by other countries," the president told attendees during a White House event on infrastructure. "We cannot continue to let people come into our country and rob us blind and charge us tremendous tariffs and taxes and we charge them nothing."

"We're going to be doing very much a reciprocal tax and you'll be hearing about that during the week and during the coming months," he said.

Commerce Secretary Wilbur Ross, who was also present for the event, endorsed the president's proposal and said the U.S. could benefit from a reciprocal tax because "we really have to claw it back" from other countries.


1 comment:

Anonymous said...

It won't be popular but it has to be done.America has been getting screwed long enough. Every time we buy something really cheap that was made in another country it means the government has subsidised our purchase. Unforunately we have become addicted to dirt cheap prices but we have to face facts,the country just can not afford to support the rest of the world.