Trump Drops Support For 'border Adjustment' Tax: Report

By MarketsMarketWatch Pulse

The Trump administration has dropped support for a so-called border adjustment tax, the New York Times reports a day ahead of a tax-plan announcement by President Donald Trump. House Republicans have backed the proposal, which would tax imports while exempting exports. Treasury Secretary Steven Mnuchin said last week it was not "off the table." Two people briefed on the matter told the Times it has been shelved but may be revisited later.

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