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. “A VAT tax is a tariff ...

President Donald Trump wants Europe to buy American stuff again. On Thursday, the president ordered economic officials to develop custom “reciprocal tariffs” for each of America’s trading ...

U.S. President Donald Trump has ordered economic officials on Thursday to devise plans for reciprocal tariffs on America’s trading partners by April. © 2025 ...