Ross Says Tax Bill Comes Before Steel Tariff Decision

The transcript discusses the president's interest in tariffs, particularly on steel, and the delay of the 232 report due to tax reform priorities. It covers various trade proceedings, including 301 and NAFTA, highlighting the complexities of rules of origin in the automotive industry. The economic implications of tax and trade policies are also examined, emphasizing potential GDP growth and federal tax revenue increases.

What is the main reason for delaying the 232 report according to Secretary Ross?

• To improve international relations

• To address environmental concerns

• To prioritize tax reform

• To focus on healthcare reform

Which report is considered easier to handle from a Congressional relations perspective?

• The 232 report

• The NAFTA report

• The GDP growth report

• The 301 report

What is a significant challenge with the current rules of origin in NAFTA?

• Lack of clarity in product definitions

• Increased tariffs on electronic parts

• Outdated automotive technology definitions

• High dependency on European components

How does Secretary Ross suggest tax reform will impact the US economy?

• By reducing the federal tax revenues

• By increasing the GDP growth rate

• By decreasing the number of jobs

• By lowering the cost of imports

What is the expected impact of a 1% increase in GDP growth rate according to Secretary Ross?

• A $5 trillion increase in the economy

• A $10 trillion increase in the economy

• A $3 trillion decrease in federal tax revenues

• A $2 trillion increase in trade deficit