Former President Donald Trump has changed the Republican Party’s economic policy in recent years, opting for protectionism and tariffs in a historic departure from conservative norms. Trump floated a new policy idea to CEOs and lawmakers in a meeting ahead of the 2024 election.
What Happened: Citing anonymous sources, CNBC reporter Emily Wilkins wrote Trump floated the idea of eliminating income taxes in favor of an “all tariff policy” to lawmakers and CEOs on Thursday.
According to CNBC, Trump is joined at a Business Roundtable meeting by influential business leaders, including Blackstone CEO Steve Schwarzman, JPMorgan Chase CEO Jamie Dimon, Carlyle Group CEO Harvey Schwartz and AT&T CEO John Stankey, among others.
While the roundtable historically approved of Trump’s tax policies, it has turned a less favorable eye to his protectionist tariffs. Trump’s tariffs have historically targeted Chinese goods, intending to help domestic manufacturing and workers.
Why it Matters: Trump’s policy would likely act as Full story available on Benzinga.com
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