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This post was edited by reedak at 2017-1-27 16:41|
The following are excerpts from an article, by Marisa Schultz and Bob Fredericks on January 26, 2017, under the headline "Trump wants 20 percent import tax to pay for Mexico wall" at the nypostdotcom website.
The White House said Thursday that it may slap a 20 percent tax on all imports from Mexico to pay for President Trump’s plan to build a southern border wall.
Press secretary Sean Spicer said that details were being worked out with Congress but that the tariff would be part of a larger tax-reform effort and add billions of dollars to US coffers.
“We can do $10 billion a year and easily pay for the wall just through that mechanism alone. That’s really going to provide the funding. This is something that we’ve been in close contact with both houses [of Congress] in moving forward and creating a plan,” Spicer said on Air Force One.
He also decried the US trade deficit with Mexico, estimated at $50 billion to $60 billion, saying it was a result of a lopsided policy.
“Right now, our country’s policy is to tax exports and let imports flow freely in, which is ridiculous,” he said.
Spicer later said the 20 percent tax was just one of several options on the table for paying for a wall.
“It could be a multitude of things. Instead of 20 percent, it could be 18, it could be 5. But the idea is to say that for all the ‘How could this ever happen?’ it’s to say, ‘OK, here’s one idea that gets it done really easy,’ ” he said.
Trump Chief of Staff Reince Priebus said later that the administration has “a buffet of options” to pay for the wall.
It’s unclear how a tariff would affect the price of the infamous taco bowl at Trump Tower.
The disclosure came as tensions between the North American neighbors were heating up and hours after Mexico’s President Enrique Peña Nieto canceled a sit-down with Trump that had been planned for Tuesday....
“The US has a 60 billion dollar trade deficit with Mexico. It has been a one-sided deal from the beginning of NAFTA with massive numbers of jobs and companies lost. If Mexico is unwilling to pay for the badly needed wall, then it would be better to cancel the upcoming meeting,” he said in two tweets Thursday morning.
Hours after Peña Nieto backed out, Trump claimed canceling the meeting was a mutual decision.
“Unless Mexico is going to treat the United States fairly, with respect, such a meeting would be fruitless, and I want to go a different route,” Trump said at the GOP conference in Philadelphia
Meanwhile, Congress will push through funding for the wall, which would cost $12 billion to $15 billion, Senate Majority Leader Mitch McConnell said, without giving specifics. (End excerpts)