BREAKING : Trump is Putting a 20% Tax on Imports From Mexico to Pay For THE WALL
According to President Trump’s White House Press Secretary, the border wall will be paid by a 20% import Tax on all products coming from Mexico.
From NBC News
President Trump will call for a 20 percent tax on Mexican imports in the hopes of raising billions of dollars to help construct a controversial wall along the southern border of the United States — a move likely to ratchet up the tension between the two nations.
White House Press Secretary Sean Spicer told reporters on Thursday that the plan had been discussed with congressional Republican leaders and is part of a broader tax reform effort. Chief of Staff Reince Priebus told NBC News the 20 percent tax on Mexican imports is one of a “buffet of options”, sentiments Spicer also echoed.
“When you look at the plan that’s taking shape now, using comprehensive tax reform as a means to tax imports from countries that we have a trade deficit from, like Mexico,” Spicer told reporters. “If you tax that $50 billion at 20 percent of imports — which is by the way a practice that 160 other countries do — right now our country’s policy is to tax exports and let imports flow freely in, which is ridiculous. By doing that 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.”
The news came on the heels of the decision Thursday to scrap an upcoming meeting between Mexican President Enrique Peña Nieto and President Donald Trump in the wake of a fiery spat over which nation will pay for a border wall between the two countries.
“This morning we informed the White House that I will not attend the business meeting scheduled for next Tuesday with the @POTUS,” Nieto tweeted.
Trump tweeted earlier Thursday that if Mexico refused to pay for the wall it might be best to cancel their upcoming meeting.
“The U.S. has a $60 billion dollar trade deficit with Mexico. It has been a one-sided deal from the beginning of NAFTA with massive numbers…,” Trump tweeted. “If Mexico is unwilling to pay for the badly needed wall, then it would be better to cancel the upcoming meeting.”
Poll:
Do you support Trump’s 20% tax on Mexico due to Peña Nieto’s refusal to pay for the wall?— Twitt3r Polls❗️ (@twitt3rpoll) January 26, 2017
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Mr Trump I think we should take all the tax breaks back from the USA company’s that took their business to Mexico. Then most of are company’s will come back and Mexico will be paying for the wall. Those company’s that are USA and want come home we penalized them for having their business in Mexico. Thank you for you timeI do think your on the right path. Stand your ground people don’t see how we can get this country in the green . I’m a widow my husband was in the arm we were married 7yr he died in the V.A Hospital they told me I couldn’t get widow due to the fact that he was in the Cold War not a war and we where married 7 years not 10. I myself is disabled how can I live with 16.00 a month in food stamps. I see this women that aren’t from this country that are getting more foodstamps and money I’m not trying to complain I just don’t understand maybe you can enlighten me. I had to move in with my mom . Some of this people live in big house and go back to their country 1yr so they can keep their visa.Like I said before about Mexico. U.S.A. won’t have to pay a penny the company’s that went over their will. With all the tax brake they had now going to reinforce the wall or build it either way it’s still a good idea