- President Trump wants Europe to buy more American goods.
- He ordered officials to create tariffs for each trading partner.
- He blames the VAT for the US trade deficit with the EU.
- Trump claims a VAT is a tariff, which is incorrect.
- A tariff is a tax on imports, while a VAT is a tax on all domestic consumption.
Source: fortune.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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