Trump declares U.S. exempt from previously agreed global corporate tax pact
- U.S. President Donald Trump declared that the global corporate minimum tax deal "has no force or effect" in the U.S., withdrawing from the 2021 arrangement with nearly 140 countries.
- Trump ordered the U.S. Treasury to prepare options for "protective measures" against countries with tax rules that may harm American companies.
- The European Union, Britain, and other countries have adopted the 15% global corporate minimum tax, while the U.S. Has a roughly 10% tax rate.
- Trump's memo stated that the global tax deal "recaptures our Nation's sovereignty and economic competitiveness" by declaring it ineffective in the United States.
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Leaning Left1Leaning Right7Center8Last UpdatedBias Distribution50% Center
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R 44%
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