All G7 leaders who agreed to this proposal should be shot for treason
I’d hoped that this agreement would be the first step towards preventing companies avoiding tax by shuffling money around. Now this. Even more reason to avoid all US companies in future
I’d hoped that this agreement would be the first step towards preventing companies avoiding tax by shuffling money around.
First time?
By giving in to this you only open the door to more bullying.
Tries to force. Fuck Trump and ALL maga dipshits.
Not try, he won, the g7 agreed to his terms
Fucking disgusting. All leaders in the G7 need to be removed.
G0 summits would represent a significant savings
I’m out of the loop here, what was the reasoning behind agreeing to the manchild’s terms?
First three paragraphs of the article
Once again, the threat worked. By brandishing in recent weeks the prospect of a new tax on foreign companies – dubbed the “revenge tax” – the United States secured a major concession from other G7 countries on a tax issue that has irked Donald Trump since his return to the White House: the taxation of multinationals, and more specifically, the 15% global minimum corporate tax adopted in 2021 by 140 countries under the aegis of the Organization for Economic Cooperation and Development (OECD). Already implemented in 2024 across the European Union as well as in the United Kingdom, Canada and Japan, this tax was seen as a first step in combating unfair tax competition among states.
Eager to share this American victory, US Treasury Secretary Scott Bessent announced it on Thursday, June 26, on the social network X. “After months of productive dialogue with other countries on the OECD Global Tax Deal, we will announce a joint understanding among G7 countries that defends American interests,” he wrote. “(…) OECD Pillar 2 taxes [that is, the 15% global minimum tax] will not apply to US companies.” Le Monde was able to confirm this information on Friday, 27 June, via both France’s Ministry of Finance and the OECD, as the G7 finalized a communiqué seen by the newspaper.
“The rest of the G7 [France, UK, Germany, Italy, Canada, Japan] has capitulated,” said Gary Clyde Hufbauer of the Peterson Institute for International Economics, an American think tank. “Might makes right. This is a special privilege granted to the United States, even though they are not a tax haven and were not the target of this tax reform,” lamented Pascal Saint-Amans, who was the chief negotiator for the tax reform at the OECD.
If I remember correctly, then the US pushed for the IJC in The Hague without participating. Is this a pattern and the tax advantage for the US was the goal from the start?
I dont think I’m smart enough to provide an educated answer to this, but it does feel like a pattern where the US disreguard international agreements
