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Trump's Tax Bill Drives Investors to European Markets

6/8/2025

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Summary

Story summary

Raphael Gallardo, chief economist at Carmignac, warns that President Trump's tax bill has shaken the US's status as a safe investment haven, potentially sparking a "revenge tax." As a result, investors are flocking to Europe, where economic reforms are igniting growth and European equities are outpacing US assets amid escalating trade policy worries.

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Story summary

Raphael Gallardo, chief economist at Carmignac, warns that President Trump's tax bill has shaken the US's status as a safe investment haven, potentially sparking a "revenge tax." As a result, investors are flocking to Europe, where economic reforms are igniting growth and European equities are outpacing US assets amid escalating trade policy worries.