“Big beautiful bill” weighs on the US dollar
Week Ahead , 6. Juni
The US administration under President Trump has already caused uncertainty on the capital markets with its “Big Beautiful Bill” budget plans due to the fiscal implications they contain. Now that the bill has already passed the House of Representatives and is awaiting confirmation by the Senate, Section 899, which regulates the taxation of passive US income of non-US companies and individuals, has increasingly come under the spotlight. We believe that the “BBB” weakens confidence in the United States as a partner, its capital market, and its trade and fiscal policy, which could put further pressure on the US dollar.