A value-added tax is not a tariff, but Trump blames it for America’s trade deficit with the European Union.

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.

Treasury Secretary Scott Bessent defended President Trump’s recent decision to study the proposed reciprocal tariffs instead of immediately enacting them. “As we’ve learned that with

President Trump on Thursday directed federal agencies to study reciprocal tariffs aimed at matching taxes and other economic barriers used by trade partners. His newly issued memorandum cited value-added taxes,

The surprise inclusion of VAT to calculate tariffs prompts questions over the possible impact on British businesses.

President Donald Trump is embarking on what may be his most disruptive action yet for the global economy by broadening his grievances to how other countries choose to tax and regulate.

The Government faces questions on how it will respond to US President Donald Trump's latest trade announcement, which threatens to impose tariffs as a retaliation for charging VAT on US goods. Mr Trump announced on Thursday that he would impose 'reciprocal tariffs' on all other countries,