{"id":24712,"date":"2025-06-29T14:38:12","date_gmt":"2025-06-29T14:38:12","guid":{"rendered":"https:\/\/www.europesays.com\/us\/24712\/"},"modified":"2025-06-29T14:38:12","modified_gmt":"2025-06-29T14:38:12","slug":"g7-exempts-us-from-applying-minimum-tax-deal-politico","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/24712\/","title":{"rendered":"G7 exempts US from applying minimum tax deal \u2013 POLITICO"},"content":{"rendered":"

The G7 statement<\/a> suggests creating a a “side-by-side system” that excludes U.S. firms from minimum tax rules and “facilitate[s] further progress to stabilize<\/a> the international tax system.”<\/p>\n

The agreement comes as the EU and the U.S. are locked in high-stakes trade talks ahead of a July 9 deadline, when U.S. President Donald Trump has threatened to jack up tariffs on European goods to as high as 50 percent if no deal is reached.<\/p>\n

In a sign of d\u00e9tente<\/a>, the EU, Canada, Japan and the U.K. agreed to exempt the U.S. from applying the 15 percent minimum tax on multinationals in a bid to avert Washington\u2019s countermeasures<\/a>. <\/p>\n

The minimum tax was a key plank of a deal, brokered by the Organization for Economic Cooperation and Development, that was agreed by almost 140 countries in 2021 to create a more fair global tax system. The U.S. Congress has never ratified that agreement.<\/p>\n

In exchange for the exemption<\/a>, the U.S. agreed to drop a so-called revenge tax against other countries that impose allegedly \u201cdiscriminatory\u201d levies on U.S. firms. U.S. policymakers came under intense pressure<\/a> to ease the mooted tax amid fears that it would have dented foreign investment in the country.<\/p>\n

\u201cI have asked the Senate and House to remove the Section 899 protective measure from consideration in the One, Big, Beautiful Bill,\u201d Treasury Secretary Scott Bessent wrote on X<\/a> Thursday.<\/p>\n","protected":false},"excerpt":{"rendered":"The G7 statement suggests creating a a “side-by-side system” that excludes U.S. firms from minimum tax rules and…\n","protected":false},"author":3,"featured_media":24713,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,3],"tags":[2147,261,4315,5374,69,22200,156,268,170,2852,50,2175,620,130,22201,5409,376,67,132,68,22202],"class_list":{"0":"post-24712","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-united-states","8":"category-us","9":"tag-canada","10":"tag-companies","11":"tag-competition","12":"tag-customs","13":"tag-donald-trump","14":"tag-european-politics","15":"tag-france","16":"tag-investment","17":"tag-japan","18":"tag-negotiations","19":"tag-news","20":"tag-tariffs","21":"tag-tax","22":"tag-trade","23":"tag-transatlantic-relations","24":"tag-u-s-politics","25":"tag-united-kingdom","26":"tag-united-states","27":"tag-unitedstates","28":"tag-us","29":"tag-wopke-hoekstra"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114767168857632592","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/24712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=24712"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/24712\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/24713"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=24712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=24712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=24712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}