BoS: Higher defence spending threatens US tax reforms

16 August 2017 | 1 minute read

As tensions rise between the US and North Korea, Bank of Singapore believes the US is likely to increase its defence spending, which would threaten the US’ tax reform programme. “Whether Trump’s rhetoric towards North Korea is just a ‘wag the dog’ attempt to distract attention from his domestic difficulties or something more serious, it seems likely that military spending…

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