WTO could authorize unprecedented trade retaliation in border adjustable tax dispute

Analysts are asserting that the World Trade Organization could authorize over $100 billion in trade retaliation if the United States implements a border adjustable tax -- as envisioned in the House Republican tax reform blueprint -- and subsequently loses a dispute at the WTO. But for that reason alone the U.S. may be able to persuade other WTO members not to bring a case, Gary Hufbauer, a fellow at the Peterson Institute of International Economics said at a Feb. 1...