Speaker Paul Ryan said Sunday that the country can bring jobs back to the U.S. without the tariffs proposed by President-elect Trump.
Trump’s economic plan includes these tariffs, which he says will drive businesses back to America because it will become too expensive to operate in China and Mexico.
But Ryan, R-Wisc., said on CNN’s “State of the Union” that there’s a better way than the tariffs and “trade wars” in Trump’s plan: tax reform, including fixes on border adjustments.
“He’s trying to make America more competitive,” Ryan said. “We believe the smartest and best way to do that is comprehensive tax reform.”
This tactic, which is part of the Republican party platform, will have “no collateral damage” on the economy.
Imposing tariffs on China and Mexico risks those countries responding with tariffs or sanctions of their own against the U.S., which could hurt the American economy, analysts told CNN.
