The world’s financial leaders agreed on Friday to maintain expansionary policies to help economies survive the effects of COVID-19, and committed to a more multilateral approach to the twin coronavirus and economic crises.
US President Joe Biden’s administration told allies on Friday it was re-engaging with them to help steer the global economy out of its worst slump since the Great Depression, a contrast with the go-it-alone approach of Donald Trump.
The United States is pushing in the G20 for agreement on a global minimum corporate tax to stem the erosion of government revenues, US Treasury Secretary Janet Yellen said on Monday.
Some 130 countries have backed a global minimum tax as part of a worldwide effort to keep multinational firms from dodging taxes by shifting their profits to countries with low rates.
France, Germany and Italy said on Friday that a new US proposal for global minimum corporate tax rate of at least 15% was a good basis for sealing an international deal by July.