Post #13277 by tecmo on the Berkshire Hathaway board

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If we change to word "VAT" to tariffs on "all" goods (figuring that the vast majority of "goods" are made from imported content if not imports themselves), what would the pragmatic difference be?

A tariff is essentially at tax on consumption; so it should have the same impact as a VAT (with some important additional side effects which might be viewed as positive or negative).

* It will impact imported goods more than domestically produced
* It will impact exporters due to counter tariffs imposed by other countries

tecmo
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