G7 Averts Trade War with Minimum Tax Compromise | JQJO

G7 nations, excluding the U.S., agreed to a 15% minimum tax on multinational corporations to stabilize the international tax system. This agreement avoids retaliatory tariffs threatened by the U.S. The U.S. secured an exemption from the minimum tax in exchange for dropping a planned "revenge tax" on countries with allegedly discriminatory levies against U.S. firms. This resolution comes amidst ongoing trade negotiations between the U.S. and the EU, with a July 9th deadline looming.