Here’s What Donald Trump Got Wrong About Mexico’s Taxes

10/03/16 Time

trumpAfter Donald Trump suggested at the presidential debate last week that foreign countries’ value-added tax, or VAT, amounts to a tariff on American companies, the idea appeared, briefly, to gain steam.

“When we sell into Mexico, there’s a tax—automatic, 16 percent, approximately,” Trump said Monday. “When they sell to us, there is no tax.”

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