Lee, Thea M., Assistant Director of Public Policy, AFL-CIO quoted in “U.S. Multinationals and Tax Reform,” Council on Foreign Relations Backgrounder, 03/31/10

“If you’re based in a country with VAT, it’s a big advantage, because your exports are tax-free. Unlike most of our competitors, like China and European countries, we don’t have a comparable offsetting rebate on exports, which creates a disadvantage for American-based producers.”