Published On: Thu, Jan 26th, 2017

Now Trump says he seeks Mexican import tax to pay for border wall

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According to the BBC, U.S. president Donald Trump will seek a tax on goods imported from Mexico and use the revenue to build a border wall, the White House spokesman has said.

The plan was announced just after the Mexican president cancelled a visit to Washington, amid a row sparked by the question of who will pay for the wall.

On Wednesday Jan. 25, president Trump  signed an executive order to create a wall on the US southern border with Mexico.

Making Mexico pay for it was one of his key election campaign pledges.

But President Enrique Pena Nieto has always insisted that will not happen and on Thursday he pulled out of next week’s White House meeting.

Hours later, White House spokesman Sean Spicer told reporters that the president had discussed the funding proposal with lawmakers, and that they are considering making it part of a tax reform package the US Congress is planning.

He said that a 20% tax could generate approximately $10 billion in tax revenue per year.

“Right now our country’s policy is to tax exports and let imports flow freely in, which is ridiculous”, Mr Spicer said aboard Air Force One, adding that the tax will “easily pay for the wall”.

The two countries exchange about $1.6 billion USD per day in cross-border trade.

brick on the wall

Doesn’t an import tax on good from Mexico mean that US consumers will be paying for Trump’s wall? (Facebook comment by Stewart Mandy) Photo: El Financiero.

Source: http://www.bbc.com/

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