Trump Blames VAT for Trade Deficit

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Reuters

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Business

Business & Economics

Analysis-Why Trump has thrown VAT into the trade stand-off

Summary

Nutrition label

73% Informative

The 170-plus countries who charge VAT - including top U.S. trade partners in Europe - insist they have no impact.

VAT is levied on the value added at each stage of the supply chain, such as from manufacturer to retailer to consumers.

The White House's ' double-whammy' argument also targets the VAT exemption for EU exports.

"I think this is more a ( White House ) negotiating ploy, rather than them being really serious about the issue itself," Poitiers said. "I don't think they're interested in questions of global tax cooperation." (Reporting by Philip Blenkinsop ; additional reporting by David Lawder in Washington ; editing by Mark John and Toby Chopra ).

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Informative language

Neutral language

Article tone

formal

Language

English

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not offensive

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not hateful