The Group of Seven (G7) said Saturday that it will allow American companies to be excluded from a global minimum tax imposed by other countries, creating instead a “side-by-side” agreement ...

G7 Backs Plan for ‘Side-by-Side’ Tax System to Avoid U.S. Fight American companies will be exempt from penalties related to a 2021 global minimum tax deal that President Trump opposes.

Treasury Secretary Scott Bessent asked House and Senate Republicans on Thursday to scrap the “revenge tax” on foreign investments from their versions of President Trump’s sweeping tax bill ...

U.S. Treasury Secretary Scott Bessent said on Thursday that he has asked Republicans in Congress to scrap the Section 899 retaliatory tax proposal from their tax and spending bill after Washington ...

The US and fellow Group of Seven nations signed off on an agreement aimed at averting a global tax war, by creating a “side-by-side” system that would exempt US companies from some elements of ...

A deal has been reached with G-7 nations on international corporate minimum-tax rates.

Bessent said that under the G7 agreement, the 15% global corporate minimum tax will not apply to U.S. companies under "Pillar 2" of the Organization for Economic Cooperation and Development tax deal.

Treasury Secretary Scott Bessent said the Group of 7 had agreed that penalties related to a 2021 “global minimum tax” deal would not apply to American companies.

But even as other G7 leaders defuse any public disputes with Trump, the U.S. president's vision for the world remains largely incompatible with they want.

Jim O'Neill thinks the elite grouping no longer serves a useful purpose, at least as it is currently constituted.