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Trump Team Floats a 10% Tariff on Imports

Posted December 23, 2016

Under Economic Issues, International Trade Issues

(John King & Jeremy Diamond – CNN)

President-elect Donald Trump’s transition team is discussing a proposal to impose tariffs as high as 10% on imports, according to multiple sources.

A senior Trump transition official said Thursday the team is mulling up to a 10% tariff aimed at spurring US manufacturing, which could be implemented via executive action or as part of a sweeping tax reform package they would push through Congress.

Incoming White House Chief of Staff Reince Priebus floated a 5% tariff on imports in meetings with key Washington players last week, according to two sources who represent business interests in Washington. But the senior transition official who spoke to CNN Thursday on the condition of anonymity said the higher figure is now in play. Click here to read more.

Related: Donald Trump’s Seriously Bad Idea – A 5% Tax Or Tariff On All (Forbes)