Things produced within the EU can be a better deal if it’s not too labor intensive. Camper bands are a good example of something being built within the EU and able to have a price advantage, even after factoring in taxes.
Take, for example, an iphone 14 pro, base model. Prices are from apple.com and apple.com/fr as of today. I choose this because it's the exact same model that's available from the same retailer, so easy to compare. But this happens with many other products.
US: 999 USD FR: 1329 EUR
That's way more than 23% (999 * 1.03 * 1.2 = 1235).
1 USD = 1.03 EUR (according to google)
French VAT: 20%
French import tax: 0% on phones (surprising, but there you have it: https://www.douane.gouv.fr/fiche/calcul-des-droits-et-taxes-...)
Hell, when I was in college, (~2010, in France), I used to be really into photography. Bought a tripod and head. Italian brand, made in Italy. It was cheaper for me to order it from B&H in NY, pay for conversion charges, shipping, import duties, VAT, etc on top of the shipping, than it was to buy it local. Both Italy and France had the Euro at the time.
Maybe it's because California has got a performant agriculture.
Mostly housing, healthcare and education are more expensive in the US but consumer prices are generally significantly lower. Check numbeo.