alt Hacker NewsGood write up here https://www.economicforces.xyz/p/stop-saying-a-value-added-t... about how VAT doesn't alter the levelness of the playing field re imports and exports
Good write up here https://www.economicforces.xyz/p/stop-saying-a-value-added-t... about how VAT doesn't alter the levelness of the playing field re imports and exports
VAT complicates the business environment for US companies operating in the EU, and it takes a major chunk of their margins. US doesn't have VAT and has a significantly easier business environment for EU businesses to operate in - leading to an unbalanced playing field.
VAT is just one component though. Remember that US largely subsidizes and sponsors the defense of EU, Ukraine, Taiwan, Japan, etc - but those countries have been giving less and less back, over the past years.