House Plan For Trump-ish "Border Adjustable Tax" Will Likely Hit WTO Wall

``...the DBCFT would impose a flat 20 percent tax only on earnings from sales of output consumed within the United States... It gets complicated, but the upshot is that the cost of imported supplies would no longer be deductible from taxable income, while all revenue from exports would be. This would be a huge incentive to import less and export more, significant change indeed for an economy deeply dependent on global supply chains.... [but] Trading partners could also challenge the GOP plan as a discriminatory subsidy at the World Trade Organization. That's because it includes a deduction for wages paid by U.S.-located firms, importers and exporters alike -- a break that would obviously not be available to competitors abroad.''