Expert: Low-risk Donald Trump will impose import taxes

An international finance expert has played down speculation that the Trump administration will transform the US into potentially the world’s biggest tax haven. Carl Tannenbaum, chief economist of Northern Trust, which employs 16,500 people, addressing a Limerick Chamber of Commerce event yesterday, said the likelihood of a border tax passing was low.

Expert: Low-risk Donald Trump will impose import taxes

Any proposed border tax is at its heart, he said, a way of promoting US exports and disadvantaging imports into the US.

“It would prospectively turn the US into the biggest tax haven on the face of the earth. And, of course, in this part of the world, which has made a lot of headway by having corporate-friendly policies, this is alarming.

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