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Waiting game for US tax reform details

Annabel Kean

Details on Donald Trump's tax reform are "pretty scant", says one New Zealand economist.

US President Donald Trump turned focus towards tax reform after an attempt to repeal Obamacare lacked support and was cut short last week.

The reform would increase tax on all imports and set up a special exemption on exports.

ANZ Chief Economist Cameron Bagrie said it is putting it optimistically to say that they have little detail on the matter, so any ecomonic assessment will have to wait.

Bagrie said that normally in the early stages of policy design there would be a bit of an idea of where things were heading, but currently an economic assessment on potential US tax changes can not be made.

"At the moment we don't have an awful lot of facts, we've got an awful lot of concepts as to what could be happening - but not an awful lot of detail beyond that."

He said the Republican's health reform not having the numbers to move forward raised some serious questions about whether there would be the same problem with a "so called tax package".

"It'll come down to design, who gets hit with what and what's the magnitude. So we've got to hold fire, we've got to make an informed comment based on decent facts."