US Treasury: The executive order signed by Trump on his first day in office clearly states that the Organization for Economic Cooperation and Development Pillar II agreement proposed by the Biden administration has no binding or legal effect on the US. Today, the current administration has delivered on that promise. The Treasury Department worked closely with Congress to successfully push more than 145 member countries under the OECD/G20 inclusive framework to reach a consensus that companies headquartered in the US only need to abide by the minimum global tax rules within the US while being exempted from the relevant provisions of the Pillar II agreement.

US Treasury: The executive order signed by Trump on his first day in office clearly states that the Organization for Economic Cooperation and Development Pillar II agreement proposed by the Biden administration has no binding or legal effect on the US. Today, the current administration has delivered on that promise. The Treasury Department worked closely with Congress to successfully push more than 145 member countries under the OECD/G20 inclusive framework to reach a consensus that companies headquartered in the US only need to abide by the minimum global tax rules within the US while being exempted from the relevant provisions of the Pillar II agreement.