Economist argues GST is not protectionist and should not attract any new levy from the US but concern remains for steel industry
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US president Donald Trump has threatened “reciprocal tariffs” on US trade partners in retaliation for some domestic taxes, such as value-added taxes, sparking concerns Australia could be targeted.
But economists have argued Australia’s value-added tax – the goods and services tax, which is applied to imported and domestically sourced goods and services identically – is not protectionist, and so could escape retaliation from the US.
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