Trump Wants To Pay For Border Wall With Import Tax: Spokesman

By Robert Schroeder Markets MarketWatch Pulse

President Donald Trump wants to pay for a wall along the border with Mexico through a 20% tax on imports, White House press secretary Sean Spicer told reporters Thursday. Spicer's comments appeared to be an embrace of House Republicans' border adjustment plan, which would tax imports but exempt exports from taxation. Republicans have pressed the plan as an alternative to tariffs. Earlier Thursday, Mexico's president canceled a planned meeting with Trump as the two disagreed over who would pay for the proposed wall. Spicer said import taxes would be applied to countries the U.S. has a trade deficit with, like Mexico.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.