It’s GE vs. Wal-Mart as Corporate Feud Breaks Out Over Tax
- Exporters support border-adjustment tax proposal to cut costs
- New group formed to fight retail-backed lobbying effort
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General Electric Co. and Boeing Co. are girding for a showdown with corporate giants including Wal-Mart Stores Inc. over a proposed U.S. tax on imports, setting up a battle across industries that could be one of the most fractious in recent corporate history.
GE, Boeing and Pfizer Inc. are among about two dozen companies that have formed the “American Made Coalition,” a group representing makers of domestic goods that will promote efforts to overhaul the U.S. tax code. They say the so-called border-adjusted tax would help U.S. manufacturers compete with products made overseas, giving a boost to President Donald Trump’s goal of increasing factory jobs.