In a bid to retaliate against foreign legislation such as digital services taxes, the U.S. wants to tax these countries’ individual and corporate equity investments in the United States, including stock market holdings and corporate ownership.
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U.S. President Donald Trump’s proposal to tax foreign investment from countries he believes have “unfair foreign taxes,” including Canada, is transforming his trade war into a capital war – and even conservative-leaning Americans are pushing back.
In a report this week, the American Enterprise Institute put it plainly: “We should be worried about Section 899,” referring to the section of Mr. Trump’s budget bill that proposes the foreign-investment tax.
