Michael Stumo recalls that one of Donald Trump’s major issues raised during his run for president was to reform the trading policies of the US’s major trading partners. Overtime, the US has lost jobs and prosperity to countries that provide protectionist advantages to their local industries, such as Japan, Korean and China. While nothing definitive has yet happened, Michael believes that Trump is on the right track. Present diversions with the North Korean situation are making it a little difficult to focus on the US-China trade arrangements, but clearly it was discussed in the recent meeting between Trump and Chinese President Xi. Michael favors some type of border adjust tax that would be levied on important and would replace the FICA Payroll Tax. What a great idea.
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