In his most explicit statement to date, President Trump told business leaders at the White House that he favors “some sort of border tax,” effectively throwing his support behind a proposal from House Ways and Means committee chairman Kevin Brady (R-TX) and House Speaker Paul Ryan (R-WI) for a tax code rewrite that is strongly opposed by almost every brand and retailer in the industry because of their heavy dependence on imports. It seemed a step away from a comment last week made to CEOs of Autozone, JC Penney and Target that the border adjustment tax was “too complicated.”

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