Concerns raised that section 899 could backfire and also undermine dollar’s safe haven status
Foreign investment into the US could be threatened by Donald Trump’s new “revenge” taxes, analysts have warned.
A provision within the president’s One Big Beautiful Bill Act will allow the US to apply higher taxes on foreign individuals, businesses and investors connected to jurisdictions that impose “unfair foreign taxes” on US individuals and companies.
Concerns raised that section 899 could backfire and also undermine dollar’s safe haven statusForeign investment into the US could be threatened by Donald Trump’s new “revenge” taxes, analysts have warned.A provision within the president’s One Big Beautiful Bill Act will allow the US to apply higher taxes on foreign individuals, businesses and investors connected to jurisdictions that impose “unfair foreign taxes” on US individuals and companies. Continue reading… Trump administration, Donald Trump, Business, Economics, US news, Foreign policy, World news, UK news, London Stock Exchange, US politics, Europe, Dollar, Tax and spending Business | The Guardian
