Interest Equalization Tax
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Interest Equalization Tax was a domestic tax measure implemented by U.S. President John F. Kennedy in July 1963. It made it unprofitable for foreign countries to reduce the outflow of U.S. capital. It was seen by some as retaliation against Canadian attempts to repatriate their economy one month earlier under the direction of Finance Minister Walter Gordon. U.S. claimed it to be solely a domestic initiative.
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