US President Donald Trump 's corporate tax rate plans could affect the merger of US tobacco giant Reynolds American and British American Tobacco ( BA ) , set to close in August . Trump promised lowering rates from 35 % to 10 % , but the House of Representatives looks set to push for its proposal of a rate cut to 25 % and changing the worldwide tax system to a territorial one , as well as taxing imports but exempting exports .
US President Donald Trump's corporate tax rate plans could affect the merger of US tobacco giant Reynolds American and British American Tobacco (BAT), set to close in August. Trump promised lowering rates from 35% to 10%, but the House of Representatives looks set to push for its proposal of a rate cut to 25% and changing the worldwide tax system to a territorial one, as well as taxing imports but exempting exports.