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(must-read) A massive threat for Europe if the US will try to include Value-Added Tax #VAT in its calculation of #reciprocal #tariffs to be applied to the EU and the UK that uses the same form of indirect taxation - Vítor Constâncio @vmrconstancio.bsky.social https://vtor.substack.com/p/trumps-reciprocal-tariffs-and-vat