US Markets Are No Longer Safe for Investments, Carmignac Says

The US has ceased to be a secure destination for foreign investors because of risks stemming from President Donald Trump’s tax and spending bill, according to Raphael Gallardo, chief economist at French asset manager Carmignac.

Gallardo is the latest market commentator to voice deep concern about Section 899 of the bill. The provision would increase tax rates for individuals and companies from countries whose tax policies the US deems “discriminatory,” prompting some to dub the measure the “revenge tax.”