Word: vat
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Dates: during 1980-1989
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...Detroit is flatly accusing Japan's automakers of "dumping"-that is, exporting cars at prices that are lower than in the home market-U.S. automen grumble that Japanese people pay more for their cars than foreign buyers do. Reason: a 20% value-added tax (VAT) is levied on car purchases in Japan but not on those cars shipped to the U.S. In effect, Detroit automen say, Japanese motorists are subsidizing their auto industry's exports...