| Abstract: | At a meeting in London on June 5, finance ministers of the Group of Seven (G7) nations agreed to establish a global minimum tax rate of 15 percent for large multinational companies. The historic agreement demonstrates the growing willingness of the United States and European countries to cooperate in the context of rising populism, protectionism and deglobalization in the Western world. It is expected to bring profound changes to global tax governance, as well as to the global trade and economic landscape. |
