G 7 Countries Agree To Side By Side Tax Deal For Us Companie
BloombergJUN 29
G7 Agrees to Exempt US Companies from Global Tax Rules
Above: U.S. President Donald Trump at the Kananaskis Country Golf Course in Kananaskis, Alberta, Canada on June 16, 2025. Image copyright: Michael Kappeler/Pool/AFP/Getty Images
The Spin
Pro-Trump narrative
This deal is a significant victory for American sovereignty and business interests. The revenge tax would have discouraged foreign investment and harmed American competitiveness, while the global minimum tax would have unfairly redistributed U.S. tax revenues to other countries. Trump's negotiating strategy successfully protected American companies from discriminatory foreign taxation.
Anti-Trump narrative
The agreement is a dangerous precedent that undermines international tax cooperation and fairness. Exempting the largest economy from global tax rules creates an unfair advantage for U.S. multinationals while weakening efforts to combat tax avoidance. This cave-in to American pressure threatens the entire framework designed to ensure fair taxation.