5% Remittance Tax Threatens US Ties With Central America
The 5% remittance tax that’s currently being proposed in Donald Trump’s “One Big Beautiful Bill Act” could really strain US-Central American relations. This policy basically targets money transfers that right now serve as economic lifelines for millions of families, and it’s also potentially pushing users toward cryptocurrency while undermining regional stability. Also Read: 80% of Americans Want Bitcoin in National Reserves Over Gold How Trump’s Tax Plan Impacts Crypto, Migration, And Latin Economies Source: Outlook Business Economic Blow to US Allies The 5% remittance tax would definitely deliver an economic blow to US allies throughout Central America and beyond. Trump’s remittance tax plan essentially proposes a 5% excise tax on international money transfers made by non-US citizens, which is actually adding to the 5-10% fees that are already charged by services such as Western Union and MoneyGram. Carlos Acevedo, former head of El Salvador...