U.S. Treasury Secretary Janet Yellen said Monday she was working with G20 countries to agree to a global corporate minimum tax rate, and pledged that restoring U.S. multilateral leadership would strengthen the global economy and advance U.S. interests.
In a speech ahead of her first International Monetary Fund and World Bank Spring Meetings as Treasury chief, Yellen signaled stronger U.S. engagement on issues from climate change to human rights and tax base erosion.
A global minimum tax proposed by the Biden administration could help to end a "thirty-year race to the bottom on corporate tax rates," Yellen told an online event hosted by the Chicago Council on Global Affairs.