Feb 13, 2017

Trump's signature won't end the border adjustment tax fight

If the border-adjusted corporate tax reform passes in the Senate, it will have a potentially higher hurdle to jump in the form of European appeals to World Trade Organization. The FT reports European officials are gearing up to challenge the change, as the WTO bars border adjustment for corporate taxes, even as they are allowed for sales tax regimes.

What Republicans say: Ways and Means Chair Kevin Brady told the FT that they are designing the tax to be "WTO compatible."

What Europe says: EU officials are confident that this is impossible, but a dispute of this magnitudewhich could theoretically lead to the U.S. facing $385 billion in trade retalliation — is many times the size of any case the WTO has previously adjudicated.

What's next: It's unlikely the Trump Administration or the Republican Party would let themselves be cowed by threats from the the EU. But a WTO challenge would still represent a time-consuming obstacle to a policy idea that has generated much opposition in 2017.

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Updated 14 mins ago - Politics & Policy

The latest: George Floyd protests nationwide

Police officers wearing riot gear push back demonstrators outside of the White House on Monday. Photo: Jose Luis Magana/AFP via Getty Images

Protests over the death of George Floyd and other police-related killings of black people continued for a seventh day across the U.S., with President Trump threatening on Monday to deploy the military if the unrest continues.

The latest: Washington, D.C., Mayor Muriel Bowser criticized federal police in a tweet Monday night for using munitions earlier in the day "on peaceful protestors in front of the White House, an act that will make the job of (DC Police Department) officers more difficult." "Shameful!" she added as she urged residents to go home and stay safe.

3 hours ago - World

The world watches America burn

Newspaper front pages via the Newseum

The world is watching the grief and anger, violence and pain in America's streets.

The big picture: The U.S. accounts for nearly one-third of the world's deaths from COVID-19. The killing of a black man, George Floyd, by police has sparked days of protest and nights of chaos in America's major cities.

Trump walks to historic St. John's Church outside White House as protests rage

President Trump walked to the historic St. John’s Episcopal Church, located just steps away from the White House across Lafayette Park, on Monday night as protests linked to the murder of George Floyd raged across the capital and cities around the country.

What we're seeing: Military police and park rangers used physical force and tear gas on peaceful protestors to clear the area so that Trump could "pay respects" to the church that was damaged by a fire on Sunday.