July 27, 2017 / 6:19 PM / a year ago

U.S. Republican leaders announce end of border tax proposal

WASHINGTON, July 27 (Reuters) - U.S. Republican leaders announced an end to the House of Representatives Republican proposal to institute a border tax on items imported into the United States as part of a tax overhaul deal struck between congressional and administration negotiators.

It is a victory for large retailers and other importers who lobbied aggressively against the proposal, including a coalition that included automakers like Toyota and stores like Target, Autozone and Best Buy. (Reporting by Ginger Gibson; Editing by Leslie Adler)

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