Week of May 26, 2025
“Mr. Trump wants European nations to nix their Value-Added Tax system, a key consumption tax – which negotiators say is not on the table” notes the New York Times (Europe’s been Negotiating by the Book, but Trump’s Tearing It Up, NYT, May 24, 2025). We alluded to the role of the Value Added Tax and the impact on trade in our April 21, 2025 post. Federal budget negotiations now get paused while the Senate contemplates the recently passed House version and trade negotiations resume. Our Signals remain unchanged.
Bob Bilkie, CFA
