No plans to introduce 'reciprocal tax' - US official

Politics 2/13/2018, 5:36 PM
No plans to introduce 'reciprocal tax' - US official

The United States has no "formal" plans to introduce a "reciprocal tax" on imports from other countries, media reported on Tuesday citing a senior administration official.

On Monday, US President Donald Trump claimed his administration intends to impose a "reciprocal tax" on imports for countries who "take advantage" of the US. Trump explained that some countries, including US allies, charge up to 75% tax for American goods, while the US does not make them pay any taxes on goods exported to the country.

However, the official insisted that the president was just repeating his stance on trade relations with other countries and that there are no plans at the moment to introduce such taxes for other countries.

Breaking the News / NP