Re:US Administration announces 34% tariffs on China – 20% on EU
by carlosjobim on Thursday April 03, 2025 @06:57AM
(#43567789)
VAT on imports are across the board, as far as consumer goods go.
Re:US Administration announces 34% tariffs on China – 20% on EU
by detaro on Thursday April 03, 2025 @06:59AM
(#43567807)
VAT by definition applies to domestic products as well, and is thus not putting foreign sellers at a disadvantage.
Re:US Administration announces 34% tariffs on China – 20% on EU
by carlosjobim on Thursday April 03, 2025 @07:13AM
(#43567931)
Domestic producers can redeem part of their VAT, which foreign producers can't, effectively making it a tariff. Also European countries apply their own bona-fide tariffs to foreign imports, which anybody who has imported into the EU has experienced. It is stated "tariff" on the bill you receive from customs and in the law that regulates said tariff, and in your accounting for expenses if you are a business. But now we have to pretend these tariffs do not exist? What kind of game is this? Has everybody became psychopaths?
Re:US Administration announces 34% tariffs on China – 20% on EU
by roflyear on Thursday April 03, 2025 @05:32PM
(#43575720)
VAT is like a sales-tax but along the supply chain (with credits) - so it's like a complicated sales-tax.
If you want to use that for argument, you should include US sales taxes in the calculation too. Which could be fair, I guess.
Re:US Administration announces 34% tariffs on China – 20% on EU
by carlosjobim on Friday April 04, 2025 @06:31AM
(#43580316)
European VAT is significantly higher than any US sales tax, reaching as high as 25% or more. Also, foreign manufacturers do not get any VAT credits.
Also, every person in the US can import goods to a value of $800 per day without having to pay any duties. In Europe you have much less generous rules, and sometimes the limit is €0.
Re:US Administration announces 34% tariffs on China – 20% on EU
by roflyear on Friday April 04, 2025 @09:26AM
(#43582016)
Are you for these recent tariffs?
Re:US Administration announces 34% tariffs on China – 20% on EU
by carlosjobim on Friday April 04, 2025 @11:52AM
(#43584180)
I'm not American so I think they can do whatever they want.
And as long as taxes on labour exist, I don't think anybody can complain about other types of taxes. Any negative economic impact that tariffs or any other taxes have are doubly worse from taxes on labour.
Re:US Administration announces 34% tariffs on China – 20% on EU
by roflyear on Saturday April 05, 2025 @12:47PM
(#43594773)
America is a massive consumer, so it will likely impact other countries, too.
I've been seeing your perspective a lot lately online - that this will somehow cancel income tax. Where is that coming from? I haven't heard a single thing about that from the administration. Where is the basis?
On specific industries they want to protect. Not completely across the board.