The G-7 reaches an agreement to exempt from the minimum tax on US multinationals | Economy

The G-7, a group that brings together the seven main economies of the world, arrived this Saturday to an agreement to exempt US multinationals from the minimum 15% tax to which 130 countries committed to Companies that invoice more than 750 million euros.

The new covenant satisfies an old aspiration of Donald Trump, who announced on his return to the White House his intention to get the country out of the agreement. The first news was given on Thursday in his X account the secretary of the treasure of Trump, Scott Besent, who linked him to a last minute touch -up in the “big and beautiful law” launched by the US Executive.

In exchange for the pact with the G-7, whose last meeting was held last week in Canada, Besent asked the United States Congress to eliminate the so-called “Clause 889 ″, which authorized Washington to retaliate whenever he considered that his companies suffer from tax discrimination. For this, the right to impose“ revenge taxes ”was reserved for foreign investments.

The United States Agreement with the G-7 considerably alters the scope of the 2021 pact, in its day considered historical, but which can now be decaffeinated. In his signature, it was considered that it was an important advance in establishing a minimum global tax that was also called to combat the tax evasion of multinationals.

“President Trump raided (in Canada) the way for this historical achievement,” Besent wrote on X about the newly achieved exemption for his large companies. The Secretary of the Treasury then recalled that the US President signed the day of his inauguration two executive orders asked to the Treasury “defending the fiscal sovereignty of the United States.” “Thanks to his leadership, we now have a great agreement for the American people,” Bessent concluded.

The new tax method will provide “greater stability and certainty to the international tax system in the future,” says a joint statement made public this Saturday by the seven main advanced economies in the world.

As part of the agreement, the other members of the G-7 undertake to support the position of the United States in negotiations with the G-20 and with the Organization for Economic Cooperation and Development (OECD). It was in this last framework in which the Minimum Multinational Tax Pact was signed four years ago. Mathias Cormann, general secretary of the OECD, described the declaration of this Saturday’s G-7 as “an important milestone in international tax cooperation,” the Financial Times.

The agreement is partially out of the “taxes on digital services”, by virtue of which some countries tax the profits of US technology companies, case of goal, Apple or Amazon. These levies caused Trump Friday to go into cholera and announce that he suspended tariff negotiations with Canada.

Ottawa had to enter into force on Monday a tax to those companies of 3% to the benefits obtained by these. “Obviously,” the Republican President wrote on Friday. “(With the plan to impose from next Monday a so -called digital tax) are imitating the European Union, which has done the same and that is currently in conversations with us,” Trump wrote on his social network, Truth. In that post, he also made known that “in the next seven days” he will communicate to Canada which tariffs planning to impose on imports that cross the northern border.