Globalist Boodle Push [Yahoo] US Treasury Secretary Janet Yellen told her G20 colleagues Friday that Washington is dropping a push for a controversial provision in a global digital tax, opening the door to a likely agreement.
The US shift — part of a broader repositioning by President Joe Biden from the "America First" agenda of former President Donald Trump — prompted immediate praise from Germany and France, which said a deal was now "within reach" following the US pivot.
If Trump was for it, Slow Joe's against it
Yellen announced at the G20 finance ministers meeting that US officials "will engage robustly" in the talks and "is no longer advocating for 'safe harbor' implementation of Pillar 1," a Treasury official told AFP.
The Trump administration had insisted on a so-called safe harbor clause in the OECD tax that effectively would have allowed big tech companies to comply voluntarily, blocking progress on a deal.
The Organization for Economic Cooperation and Development has been working on a multilateral agreement that would include a global minimum corporate tax rate on tech giants.