November 26, 2018 / 10:01 AM / 20 days ago

U.S. tax reform is not sustainable: German finance minister

FILE PHOTO: German Finance Minister Olaf Scholz attends a press conference after the federal cabinet meeting in Potsdam, Germany November 15, 2018. REUTERS/Axel Schmidt

BERLIN (Reuters) - U.S. President Donald Trump’s tax reforms are not sustainable and will result in tax increases, German Finance Minister Olaf Scholz said on Monday.

White House Economic Adviser Larry Kudlow told reporters on Tuesday that the next phase of U.S. tax reform would not happen during the final months of 2018, the “lame duck” period when Republicans will still control Congress.

Reporting by Gernot Heller; Writing by Riham Alkousaa; Editing by Michelle Martin

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