Best Buy CEO Hubert Joly said he's personally not betting on a border adjustment tax — and the mood in Washington appears to be shifting that way as well.
"I think, there are a growing number of people in Washington that understand [border adjustment tax] is a risky gamble with potential devastating consequences for American families," Joly said, responding to CNBC questions on a call with reporters. "If I had to place a personal estimation, it would be that the BAT is not going to happen."
Joly's comments come as Republican lawmakers debate a tax reform bill that could add a tax to nearly all imported goods, a so-called border adjustment tax. Executives from Target to Hewlett Packard Enterprise have voiced opposition to the tax, which could disrupt supply chains and raise prices.