I don't have much faith in the Trump administration's economic policy, but I see one small glimmer of hope. Second, he wants to treat a value-added tax, which most other nations have, as a tariff. A value-added tax is a consumption tax, not a trade restriction. But what if these two misguided arguments together lead Trump to propose a value-added tax? I have written about the virtues of a value-added tax here and here.