Trump Floats Tariff Hikes to Offset Some Income Tax Cuts (1)

Donald Trump floated the idea of using tariff hikes as a way to pay for some income tax cuts, a move that would inject uncertainty into global trade and consumer prices as Congress debates a tax code overhaul next year.

Trump, in a meeting with House Republicans in Washington on Thursday, said he is pushing for tariff hikes, as well as an extension of his expiring 2017 tax cuts and a new tax exemption for tipped wages, according to lawmakers in the room.

Former US President Donald Trump

Photographer: Bridget Bennett/Bloomberg

“He does want to look at lowering the income tax, and that could be offset and ...