What is the moral basis for this? Pretty much every other U.S. right and rule is grounded on U.S. citizenship, not where you're currently residing. Basing rights on where you live (rather than citizenship) also leads to some weird results. If you deny expats some right because they don't live in the country, then shouldn't you grant non-citizens who are indeed living in the country those same rights? After all, the standard is where you live rather than citizenship.
Well, this is what Trump believes. A solid 30% of the U.S. stock market is owned by foreigners, and so when U.S. corporations used their Trump tax break to increase their market value, 30% of that effectively gave foreigners a bump.
His tax plan effectively increased taxes in expensive "blue" states and gave that money to foreign investors.
The us already taxes the entire planet via the dollar / banking system. So it’s more of a relabel than a new conquest of the world.