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Trump Interview on U.S. Tax Plans

15 May 2017

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Proposed Changes

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United States

The Economist magazine has published a transcript of a recent interview with U.S. President Trump, Treasury Secretary Steven Mnuchin, and National Economic Director Gary Cohn. The interview covers various issues, including Trump's tax plans ({News-2017-04-27/P/2- previous coverage}). Some items of note include: A reciprocal tax is being considered to address trade deficit issues; An initial increase in the deficit is acceptable with the tax cuts in order to "prime the pump" for economic growth; The planned rate for repatriation of offshore profits is 10%, and the process for repatriation will be simplified; Tax reform may be aligned with infrastructure investments...