G7 agrees to exempt U.S. multinationals from global minimum tax
The Group of Seven nations said on Saturday (June 28, 2025) they have agreed to exempt U.S. multinational companies from a global minimum tax imposed by other countries — a win for President Donald Trump's government, which pushed hard for the compromise. The deal will see U.S. companies benefit from a "side-by-side" solution under which they will only be taxed at home, on both domestic and foreign profits, the G7 said in a statement released by Canada, which holds the group's rotating presiden