WASHINGTON (AP) — The Latest on President Trump’s meeting with U.S. manufacturing CEOs (all times local):
A senior White House official says several U.S. manufacturing CEOs pushed for a controversial tax on imports during their meeting with President Trump Thursday. The tax, known as the “border-adjusted tax,” would also exclude exports from taxation. House Republican leaders are pushing it as a corporate tax reform.
The tax has divided the business community. The official says concern was expressed by some of the 24 CEOs in the meeting, particularly those who rely on imported goods.
The border-adjusted tax is strongly opposed by large retailers such as Wal-Mart and Target, who argue that they could pay more in taxes than they earn in profits. The official was not authorized to discuss a closed-door meeting and spoke on condition of anonymity.
President Donald Trump is meeting at the White House with two dozen manufacturing CEOs.
Trump told the executives that his policies will create millions of jobs, though he did not outline specific initiatives to drive that job growth.
The president singled out Lockheed Martin CEO Marillyn Hewson, saying she was working on lowering the costs of F-35 fighter jets. Referencing his campaign rival Hillary Clinton, he asked Hewson if she thought the Democrat would have asked for savings on the contracts.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Main Street Minute: Barbecue spot to open in downtown Phoenix
- Theme park resort villages approved for development near Phoenix
- Main Street Minute: Glendale health care campus giving out eclipse glasses
- Trump ends business councils after slew of CEOs drop out
- Pressured by government, Uber agrees to protect rider data