Many American companies have had to shoulder at least some of the costs of tariffs, biting into earnings the same way a corporate tax increase would, analysts say.
Who actually bears the burden of paying President Trump’s tariffs — and, therefore, who would benefit from their potential end — has been a central economic debate this year.
The Treasury Department is rolling back efforts to shut down aggressive strategies used by America’s biggest multinational companies and wealthiest people.
The Trump administration is rolling back several efforts by the Internal Revenue Service, including one aimed at a tax shelter used by Occidental Petroleum, the parent company of this chemical plant in La Porte, Texas.
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