Tax reform, Trade, And The Dollar.

February 8, 2017

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Trumponomics is heavily focused on a jobs revival AND trade adjustment through a Border Adjustable Tax (BAT). Here is some very timely insight into the latest policy thinking.
“My associate Patrick Watson and I spent two weeks doing a really deep dive into the proposed reforms. I had the privilege of talking taxes with the chairman of the House Ways and Means Committee, fellow Texan Kevin Brady, as well as his staff. The chairman was kind enough to allow his remarks to be on the record – but his staff made it clear that they were to be on background. We have also talked with numerous think tanks and other experts across the political spectrum. We’ve actually been able to get information on some of the proposed reforms that, as far as we can tell, isn’t available in anything that’s already out there on the Internet.”
As previous notes have discussed, and the article above by Louis Gave points out, there are some very significant problems that would result internationally from BAT.
Martin Armstrong points out that historically policy makers have not understood trade policy very well. However, there is a way of addressing the issue whether it is done at the outset or ends up as a reaction at a later stage.
Are the administration’s plans lining up a volatile and then ultimately weaker dollar?

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