Trump Tax Proposal: Are Taxes On Imported Goods Good For Consumers? Retailers, Manufacturers On Opposite Sides Of Border Adjustment Proposal
February 3, 2017
The nation’s retailers and manufacturers are finding themselves on opposing sides of a proposed 20 percent tax on U.S. imports from Mexico and other countries with the anti-import tax side warning of higher prices for everyday goods and the pro-tax side saying it would level the playing field with foreign manufacturers.
More than 100 businesses and trade associations have formed Americans for Affordable Product to oppose the proposed tax, which members say will “increase prices paid by consumers” without triggering a resurgence in U.S. manufacturing.