The White House has insisted that its new tariffs would equalize the ability of the U.S. and foreign manufacturers to compete. The European Union, for example, has an average VAT of 21.8 percent, ...

There are fears Donald Trump could impose 21 per cent levy on goods from Britain in order to offset the impact of VAT.

Britain’s tax collectors are likely to be significantly underestimating illegal avoidance and not doing enough to tackle the ...