G7 Tax Deal ‘Shameful’ Concession to US, EU Tax Panel Chair Says

June 30, 2025, 2:12 PM UTC

The Group of Seven countries’ agreement to exempt American companies from key elements of global corporate minimum tax rules is a “shameful concession” to the US that OECD countries should reject, the chair of the European Parliament’s tax affairs subcommittee said Monday.

The G7 agreement, formally announced Saturday, is a “disappointing act of subservience, an alignment with American interests at the expense of national sovereignty,” Pasquale Tridico, chair of the panel known as FISC, said in a press statement.

The group of advanced economies agreed to a “side-by-side” global minimum tax system in which US companies wouldn’t be subject ...

Learn more about Bloomberg Tax or Log In to keep reading:

Learn About Bloomberg Tax

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools.