A number of economists (here, here) have tried to deny that America has a VAT (Value-Added Tax) problem that's harming our trade balance. It seems Crazy Billionaire has said we do, and he's not allowed to be right about anything. Unfortunately, their denials, while sometimes narrowly true per their exact phrasing, are slippery evasions that turn on wording. Right now, when goods are produced in a country that has a VAT, that VAT is rebated on export.