The Trump administration revokes the Global Tax Deal

 

In January 2025, the Trump administration withdrew the United States from the OECD Global Tax Agreement, which aimed to establish a 15% minimum rate for taxes on multinational corporations. This withdrawal could trigger international fiscal tensions, as other countries may maintain or reintroduce digital services taxes that target U.S. companies. The move represents a step back from previous efforts to limit multinationals’ practice of shifting profits to low-tax jurisdictions.