When President Trump says other countries are “ripping us off,” he is referring to more than trade or currency manipulation. He is also talking about predatory investors overseas — foreign-based hedge funds and sovereign wealth funds — that have devoted staggering amounts of money to bankroll frivolous lawsuits in American courts. Why? Their aim is to pocket a significant portion of any verdict or settlement. If successful, these litigation gamblers not only secure a sizable return on their investment, they also walk away without having to pay any taxes.
It is unfair to American companies, consumers, and taxpayers.
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