Consulting firm IHS chief economist Nariman Behravesh said that a border tax is "basically dead," while speaking at the J.D. Power Automotive Forum in New York today. 

"There's gonna be no border adjustment tax - that's basically dead," Behravesh said. 

President Trump has suggested levying a border tax on companies that move production outside of the U.S. to other countries.

(What will move markets this quarter and how should investors position themselves ahead of time? Jim Cramer sat down with four of TheStreet's top columnists recently to get their views. Click hereto listen to his latest Trading Strategies roundtable with them and read their advice for stocks, bonds, forex and gold.)