Big in Business: Taxes, Brexit and China rescues OPEC
Trump throws cold water on border adjustment
The president-elect tipped his hand on tax reform, saying in an interview with the Wall Street Journal that he "doesn't love" border adjustment because it's "too complicated."
Border adjustment would raise taxes on corporate importers and lower them on exporters. Because the U.S. imports more than it exports, this process would raise revenue, allowing for overall rate reductions that benefit firms that locate production at home.