Trump is slapping tariffs on imported steel and aluminum.
There is a lot more to this than meets the eye.
No. Tariffs do not improve the economy. They are punitive and, on the part of the U.S., retaliatory against Europe, Canada, and the rest of the German Axis for the harshly imposed VAT and other tariffs already long since placed on goods exported from the U.S. ...
Justinacolmena, which U.S. States have a form of VAT tax? I would prefer that be so. Sales taxes rather income tax returns more accurately reflect the extent of individuals and families' wealth and incomes. Vat is the superior method of sales tax administration.The French invented this tax on themselves and it is popular in Europe.
Some US states that tax services have a form of it too. ...
Yiostheoy, VAT is not a tariff. Nation's collect their VATs for sales and trades of ALL, (domestic or imported) goods or service products imported into. or sold, or traded within their jurisdictions. Many nations have lesser than otherwise income tax rates due to their VATs being a significant portion of their nation's tax revenues.
All governments waive their sales taxes upon their exported products. VAT method of sales tax enables their governments to exactly determine and waive the ENTIRE TAX'S AMOUNT embedded within any particular exported product. That's because sellers or traders reduce the amounts of VAT they collect on their government's behalf, by the VATs they paid. They simply pass only the differences to their governments.
USA does not levy a federal VAT or any other type of federal sales tax. Importers of goods generally pay no federal taxes upon the goods they bring into the USA and our governments cannot levy taxes upon foreign producers. The prices of foreign goods sold in the USA reflect no USA taxes upon producers and there are generally little or no taxes levied upon their products when they're imported into the USA. Additionally, USA wage rates are generally less. USA products are at some price disadvantage within USA's domestic marketplaces.
USA Exports pay their full share of foreign nation's VATs that contribute to those nations' tax revenues. Those nations do not grant USA goods any price advantages over their domestically produced products.
Respectfully, Supposn
Trade deficits are always detrimental to their nation's GDP and drag upon their numbers of jobs.
If USA adopted the Import Certificate policy, it would increase our GDP and numbers of jobs more than otherwise. Your rant about trade wars would lead to armed conflict is unrealistic.
Refer to Wikipedia's “Import Certificates” article.
Respectfully, Supposn