In an interview with The Wall Street Journal, Trump said the border-adjustment tax was "too complicated." The tax would help pay for Republicans' corporate tax cut by placing a levy on imports. It also would exclude U.S. exports from being taxed, and proponents of border adjustment say it would therefore help U.S. companies compete on a level playing field with foreign companies.
The proposal could sting the energy industry in at least two ways.
First, refiners and large integrated oil companies with refining business — including Chevron — may see the cost of imported oil go up, which would make it more expensive for them to acquire the raw crude they're in the business of refining.