The highest VAT in the world is Hungary at 27 percent. The U.S. does not have a federal VAT system . The tariff increases will be customized for each country, with one of the goals being to force ...

To narrow the fiscal imbalance, we should follow the lead of 160 other countries by adopting a value-added tax (VAT), a consumption tax that is economically similar to a retail sales tax.

Countries with VAT include Germany at 19 percent, France at 20 percent, Japan at 10 percent, and China at 13 percent. The highest VAT in the world is Hungary at 27 percent.