Goldman Sachs: Trump's "retaliatory tariffs" may restore investor favor to the European market.

Goldman Sachs stock strategist said that the provision in the Trump tax bill known as the "retaliatory tax" could weaken foreign investors' interest in US assets, and rekindle investors' focus on the European market. The measure, known as Section 899, gives the US the power to impose a maximum 20% tax on foreign individuals with US investments. The strategist pointed out that by the fourth quarter of 2024, European investors' proportion of investment in the US had risen from 15% in 2009 to 45%, but now there are signs that this proportion is reversing. Confidence in the prospects of the European continent has increased among European investors, and investment momentum in the region is also rising. Since the beginning of 2025, the European Stoxx 600 index has risen 8%.