In a nutshell, the US government is allowed to impose a tax cap of 20% on foreigners and government institutions investing in US stocks, But the actual tax rate can also be added to the existing tax rate, up to a maximum of 50% According to the tariff format between China and the United States, the 50% tax rate for mainland China's investment in US stocks is . Specific content: 1. Taxable objects Covering foreign governments and institutions, foreign-funded enterprises, and overseas individual investors. 2. Scope of tax increase This includes passive income such as profits earned in the United States, securities investment income (dividends, capital gains), bond interest, real estate rent, etc. 3. Tax rate design -Step by step increase: a 5% surcharge in the first year, followed by an annual increase of 5 percentage points thereafter, with a maximum cap of 20%. -Actual tax burden: After adding the existing tax rate, the total tax burden on some income may reach up to * * 50% * * (such as US bond interest). 4. Trigger conditions Investors of countries identified by the US Treasury Department as "discriminatory foreigners" will be punished