Your import tax goes from around 5% to 15% on most goods
Oh, whoops, I'm not supposed to say tax!
I meant fee, sorry. You are being taxed by Mr Trump for 10%.
Now for bob_c's rationalizations and intellectualizations…
Comments
-
that was a GOOD tariff charge being passed onto consumers
-
It's basically a way to shift tax burden from the wealthy onto ordinary Americans who were dumb enough to vote MAGA.
-
Foreign companies will lose market share if they pass them on when their competition does not or doesn’t have to account for tariffs. That’s reality.
-
Whiney weenies like you can't understand they block and tariff all of our imports. Nearly every country in the world does this and they don't want to stop. Time we did the same. This is moving production of all goods back to the US of A. You hate that. You bat for the away teams and vote to destroy the nation. You are the problem. We also have a large trade imbalance with the EU because of this we're leveling the playing field. Keep cheering for the EU though but soon you'll have to wear a burka. Mooselimbs don't let you girls parade around without one.
-
The information I have about the EU is that they tariff'd at rates in the general range of 1% to 5% which would only demand a retention of existing US tariff rates, not a 10% tax on what you import. That's what you're getting. A new Trump 10% tax.
-
Now do taxes (not tariffs) on US imports into the EU.
-
VAT? I think all goods get hit with that
-
VAT is recoverable if you setup a local corp. Then you pay income taxes on the local corp.
-
I don't see what the material difference is. We have 10% sales tax which EU goods would get hit with. You might devise some trickeration for a subset of some cases… I don't see how that changes this situation. But, it's true to your usual. "Setting up your local corp" does not sound particularly easy for everybody.
-
That’s the point. It’s a pain in the ass to setup a local corp over there, which is needed to optimize. Even harder to a get a local bank account to go with that corp. The whole VAT thing is a pain in the ass. Then try hiring a staff across multiple countries and see what that does. Europe has always made it very hard and administratively intensive for US companies to do business there.
