Yellen Declares End to Trump’s Global Retreat, Eyes Tax Deal (3)

Treasury Secretary Janet Yellen outlined the case for a harmonized corporate tax rate across the world’s major economies, part of an effort to restore global leadership and credibility with U.S. allies following the unilateralist approach of the Trump era.

In her first major speech on international economic policy, Yellen marked an American return to the “global stage.” She singled out China, saying the U.S. needs a “strong presence in global markets” to level the playing field.

The Biden administration tax proposal also marks a U.S. return to years-long talks -- led by the Organization for Economic Cooperation and Development with ...