Trump declares OECD tax treaty of ‘no force or effect’ in US Reuters

(Reuters) – President Donald Trump on Monday signed an executive action declaring the world’s lowest corporate tax treaty, backed by the Biden administration and negotiated with more than 100 countries, to have “no force or effect” in the U.S. to block congressional action. The agreement.

“This memo is intended to clarify that global tax negotiations that threaten our nation’s sovereignty and economic competitiveness have no force or effect in the United States,” the memo said. The document is among a series of orders and actions rushed through on Trump’s first day in office.