Trump recommits to 'major border tax' on foreign-produced U.S. products

[Eugene]

Source: Reuters

POLITICS | Wed Jan 11, 2017 | 4:11pm EST

Trump recommits to 'major border tax' on foreign-produced U.S. products

By Alana Wise | NEW YORK

President-elect Donald Trump on Wednesday promised a "major border tax" on companies that shift jobs outside the United States, further pressuring American businesses days after Fiat Chrysler Automobiles NV said heavy tariffs could force the company to shutter Mexican plants.

Since the Nov. 8 election, Trump has taken to Twitter to call out by name a number of manufacturers with both planned and existing operations outside of the country.

On Wednesday, he returned to the issue in his first news conference since the election. Trump, who will be sworn into office on Jan. 20, warned of a "very large border tax" on companies that shift production to foreign countries.

"You want to move your plant, and you think, as an example, you're going to build that plant in Mexico, and you're going to make your air conditioners or your cars, or whatever you're making, and you're going to sell them through what will be a very, very strong border ... Not going to happen. You're going to pay a very large border tax," he warned.

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Read more: http://www.reuters.com/article/us-usa-trump-bordertax-idUSKBN14V2LN

Can somebody read Mr. Trump the Revenue Clause? He obviously didn't get Paul Ryan's memo.

[WhiteTara]

1. He's going to tax his shitty ties and Ivanka's

shitty clothes and shoes? Somehow I think not.

[brush]

2. Other countries will respond. What then? A trade war and inflation?

trump brings a lot of uncertainty, and the inevitable repug recession.

It always happens.

[OnlinePoker]

4. This is what exacerbated the great depression.

Countries started putting tariffs on foreign goods, trade stopped, and chaos ensued. Oh, and it was Hoover, another Republican, in charge then as well. History is going to repeat itself.

[brush]

6. Yup. It's a historical pattern. Their policies start a recession and the Dems have...

Last edited Thu Jan 12, 2017, 01:13 AM - Edit history (1)

to get the country out of it once we get back in.

[dubyadiprecession]

3. Is the republican congress ready for their republican president?

I see this bill going nowhere fast.

[Wellstone ruled]

5. Reading comments left on Stock Web sites,

appears there are people using Trumps tweets to cash in.