Nobody knows what it is, folks. People are asking, “What is it?”—nobody knows. Experts, politicians, the fake news—nobody has a clue. Maybe it’s something, maybe it’s nothing. Could be the biggest thing ever, could be nothing at all. Nobody knows, believe me. Total mystery.
I think he's saying things other than tariffs that affect how many dollars the US could make selling shit to your country.
Thing is, the list doesn't make sense. Yeah most countries have VAT. 1) So does the US, it's called sales tax. 2) I pay VAT equally on American, Estonian or German goods. What's the problem?