How does a VAT work? Here’s why Europe’s consumption tax has Trump vowing reciprocal tariffs
He’s made clear that includes value-added taxes, or VATs, which is the way most countries—including the entire rich world apart from the United States—taxes consumption. Still, Trump blames the VAT for the U.S. trade deficit with the European Union, which hit $236 billion in 2024, according to the Census Bureau, second only to China.
EU Commission Vows to React Firmly and Immediately to Trump's Tariffs
The European Union’s executive branch has vowed to “take firm and immediate action” against U.S. President Donald Trump’s imposition of tariffs on steel and aluminum
Trump's Reciprocal Tariffs Will Overturn Decades of Trade Policy
President Donald Trump is taking a blowtorch to the rules that have governed world trade for decades. The “reciprocal’’ tariffs that he announced Thursday are likely to create chaos for global businesses and conflict with America’s allies and adversaries alike.
Trump 'doing what's fair' as he charges ahead with global reciprocal tariffs
Donald Trump's planned reciprocal tariffs would match the fees other countries impose on U.S. imports, including tariffs and taxes.
Trump’s Reciprocal Tariff Policy ‘a Step in the Wrong Direction,’ EU Says
The commission’s response comes after Trump instructed staff to explore tariffs on countries he sees as having unfair trade policies with the U.S.
Trump threatens new tariffs in bid to reshape trade
U.S. President Donald Trump has tasked his economics team with devising plans for reciprocal tariffs on every country that taxes U.S. imports, raising the risk of a global trade war with American friends and foes.
What is Donald Trump’s ‘reciprocal’ tariff plan?
His campaign billed it as “an eye for an eye, a tariff for a tariff, same exact amount”. The approach taken has been broader. Officials said they would impose the levies on a “country by country” basis,
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Savannah brewery stocks up on beer cans ahead of steel and aluminum tariffs
Service Brewing Company in Savannah stocks up on aluminum cans to counteract a looming 25% tariff, ensuring stable beer prices for local consumers ...
Trump Says He Is Considering Tariff Exemptions on Australian Steel and Aluminum
U.S. President Donald Trump says he has agreed to consider a tariff exemption on Australian steel and aluminum imports after ...
WSIL-TV3d
The truth about William McKinley, the ‘tariff king’ and Trump’s idol
Trump has dubbed McKinley the “tariff king.” McKinley referred to ... We were running big fiscal surplus.” Federal spending made up less than 3% of the nation’s gross domestic product ...
What is a tariff and how does it work?
Tariffs have dominated headlines since President Donald Trump took office just over two weeks ago, as he threatened steep, sweeping tariffs on goods the United States imports from its three largest ...
PBS11d
Economist breaks down how Trump’s tariff threats could affect consumers
The U.S., Canada and Mexico all agreed to delay the start of new tariffs and hold off for now the possibility of a tariff war ...
Tariffs may soon spike costs of cars, household goods, consumer tech
On the campaign trail, Trump promised to lower prices of groceries, cars, gas, housing, and other goods, AP News noted. But ...