Trump has railed against value-added tax as a burden to U.S. companies, although economists say this kind of tax is trade-neutral because it applies equally to imports and exports. Value-added tax, or VAT, is paid by the end purchaser at the cash register but differs from sales taxes in that it is calculated at each stage of the production process.

President Trump’s new 100% tariff on foreign-made films sends shockwaves through global markets, rattling Hollywood and pushing crypto lower as Bitcoin dips below $95K amid growing trade uncertainty.