Monday on Fox News Channel’s “America’s Newsroom,” House Majority Leader Rep. Kevin McCarthy (R-CA) said he does not want to “get into a trade war,” when asked if he supports President-elect Donald Trump’s proposal to impose a 35 percent tariff on imported products made by companies that leave the United States.
Partial transcript as follows:
HEMMER: President-elect Donald Trump says there will be 35% import tax on goods made by American company that take their jobs overseas and try to sell that product back here at home. Is that something you would support?
MCCARTHY: I have to think we look at this. What the president-elect is talking about is how do weto create more jobs here. The first way we do that is with tax reform. Tax reform, that you want to lower the burden and make greater incentive to be in America. Right you now the incentive is an advantage to have a company outside of America for repatriation to keep your money outside, form lower tax being posted in another country. So if we lower the taxes make more incentive to be in America we could achieve that goal.
HEMMER: Could you support 35 percent?
MCCARTHY: You know what there is going to be a lot of debates out there. I think there are many ways of going about doing it. In our process of better way, there is a way we deal with companies in other parts of the country. I think there’s a lot of ideas. I would like to see ideas on the table before we decide.
HEMMER: It sounds like a no. Is that a no?
MCCARTHY: I am just saying why do we predetermine? I do not want to get into a trade war. I want companies to be built in America. I think lowering the tax incentive is best way about doing that.
(h/t The Hill)
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