According to Euromonitor International, China National Tobacco is the global leader with a 44.2% share and production volumes of 2.5 trillion cigarettes annually, three times greater than current No. 2 Philip Morris, which has a 14.6% share. 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 ( 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 .