In an interview with the newspaper, Trump described the measure known as "border adjustment" which would tax imports and exempt exports as "too complicated."
According to the Journal, oil companies and retailers have expressed their displeasure at the measure, arguing that it would raise their tax bills and prompt an increase in prices given their dependence on imported goods.
Trump also told the newspaper that the dollar was already "too strong" and that recent attempts by China to support the yuan were aimed at allaying fears that authorities were deliberately weakening the currency.
Speaker Paul Ryan is in frequent communication with the president-elect and his team about reforming the tax code to save jobs in the U.S., the speaker's press secretary AshLee Strong said.
"Changing the way we tax imports and exports is a big part of that, and we're very confident we'll get it done," Strong said.
You can read the Journal article here