President Donald Trump declared that the global tax deal “has no force or effect” in the U.S. in one of a pair of new tax and trade-related directives.

On January 20, 2025, the White House issued a memorandum (the “Memorandum”), announcing that the “Organization for Economic Co-operation

President Donald Trump on Monday declared that a global corporate minimum tax deal "has no force or effect" in the U.S., effectively pulling America out of the landmark 2021 arrangement negotiated by the Biden administration with nearly 140 countries.

Because of the Global Tax Deal and other discriminatory foreign tax practices, American companies may face retaliatory international tax regimes if the United States does not c

House Republican lawmakers introduced legislation to end U.S. involvement in the framework for global taxation in response to a Trump executive order.

President Donald Trump on Monday signed an executive action declaring that the global minimum corporate tax deal supported by the Biden administration and negotiated with more than 100 other countries has "no force or effect" within the U.

The OECD has vowed to continue working with the US despite the president effectively pulling the country out of the organisation’s global minimum tax deal

Former Treasury Secretary Janet Yellen was a driving force behind talks led by the OECD that resulted in more than 130 countries agreeing to implement global tax rules in 2021.

Among the first Presidential actions was an executive order on Monday night effectively pulling the US out of the landmark 2021 OECD Global Tax Deal negotiated by the Biden administration with nearly 140 countries including India.