According to Paul Ryan - 160 other
countries charge some form of import taxes on goods made outside of their
countries. They also do not charge export taxes to their companies who export
their goods to the US or other countries.
The US doesn’t charge import taxes but
does tax exports. The US would collect
By imposing import taxes on foreign-made
goods, the US could collect $1 trillion from other countries by charging these
import taxes to those foreign businesses who export foreign-made goods into the
US.
According to President Trump, these import
taxes would be established through negotiations of bilateral trade agreements
we would negotiate with each country.
A bilateral trade agreement with a country
that has, for example, a 10% import tax on US made automobiles, could end up
agreeing to lower it to match the 5% import tax we might be proposing to charge
for their foreign made automobiles.
Norb
Leahy, Dunwoody GA Tea Party Leader
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