Mr. Spicer explained that the tax would likely appear in a full tax reform package according to Bloomberg.
The announcement came just hours after Mexican president Enrique Pena Nieto canceled a meeting with President Trump saying that Mexico was not going to pay for the wall.
Mexico imported almost $300 billion to the U.S. market in 2015 which would mean that if 100% of imported goods were hit with the 20% then just one year of the proposed tax would more than pay for a wall is estimated to cost between $12 and $20 billion to build.
Details are sparse, but it would appear some imports will not be taxed as Spicer told reporters they expect to only bring in $10 billion per year.
Pro-life medical groups representing thousands of physicians are calling on the Trump administration to implement…
Wholesale inflation surged to its highest annual rate in nearly four years in September as…
Twenty-two state financial officers demanded answers Wednesday from America’s largest credit rating agencies over allegedly…
One of the foundational ideals of a free nation is that all its citizens live…
America’s corporate executives are growing increasingly pessimistic about the economy, joining consumers whose confidence has…
