Fox Business: What is Trump's reciprocal tax and how it could affect you?

Earlier this week, President Trump hinted at the idea of enacting a reciprocal tax that would function as a tariff on imports from other countries that tax U.S. imports. A recent Fox Business article outlined the president's comments about the tax and how it could affect U.S. businesses. 

"Implementing such a tariff could have several negative effects, including making U.S. imports more expensive and reducing competition", according to Christine McDaniel, senior research fellow at George Mason University’s Mercatus Center. "For businesses that rely heavily on imports, increased costs could be passed along to the consumer."

White House officials downplayed Trump's comments stating that nothing formal was currently in the works. However, franchisors that focus heavily on imported goods should continue to be mindful of Trump's focus on fair trade and how it can impact their business. 

Click here to read the full article.