At an event at the Penn Club of New York, SSA's Ron Sorini offers his analysis of the trade agenda in 2017, including renegotiating NAFTA, the Border Adjustment Tax, and other key policy issues.
There’s One Way to Beat the BAT That Trump Won’t Like at All
Sourcing Journal, June 27, 2017
Though it’s teetering somewhere between dead and alive, it seems there’s more than one way to skin a BAT.
The belabored border adjustment tax hasn’t yet found footing among a divided Congress, but the apparel industry is certain its passage would blindside an already suffering sector.
At a breakfast discussion on the BAT and tax reform hosted by MMG Advisors in New York City Tuesday, experts had much to say about the tax’s potential impact on retail but little concrete about whether any of that will come to pass at all.
As Ron Sorini, principal of consulting law firm Sorini, Samet & Associates, explained, the BAT tax is still alive for two reasons: one, there’s still a strong feeling among the Trump Administration that the country’s current income tax system disadvantages manufacturers; and two, the money to foot the rest of the tax bill (for things like lowering the corporate tax rate from 35 percent to 20 percent) has to come from somewhere.
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Following passage of the first meaningful expansion of the GSP program since the program was created in 1974, SSA's Dan Neumann spoke with Inside U.S. Trade on the expansion of the program. For the story, click here.
SSA's own Ron Sorini is interviewed for an episode of NPR's Plant Money Podcast on how the North American Free Trade Agreement was finalized.