President Donald Trump said Saturday value-added taxes, taxes levied to goods during each stage of production which are widely used in Europe, will be considered tariffs as part of the reciprocal tariff plan he argues would level the playing field in global trade—though economists project they would increase inflation this year.

President Donald Trump has rolled out his plan to increase U.S. tariffs to match the tax rates that other countries charge on imports.

Trump calls it unfair that some countries apply higher tariffs to specific American goods than the U.S. applies back. A new executive order seeks to change that.