Value-Added Taxes (VATs) and Trade Wars

The article discusses how Value-Added Taxes (VATs) can be used as weapons in trade wars, highlighting their impact on consumer prices, competitiveness of American goods in international markets, and trade imbalances. It criticizes the hypocrisy of free trade advocates who denounce tariffs but praise VATs, arguing that VATs are essentially tariffs with additional taxes on sales of domestically produced goods.