In 1963,President John Kennedy imposed the Interest Equalization Tax (IET)on U.S.purchases of foreign securities.The IET was designed to

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The Interest Equalization Tax (IET) imposed by President John Kennedy was designed to increase the cost of foreign borrowing in the U.S. bond market. This was done in order to encourage people to invest in the U.S. rather than overseas, and to help protect the U.S. balance of payments by reducing the outflow of dollars to foreign countries.

In 1963,President John Kennedy Imposed the Interest Equalization Tax (IET)on