Yellen Faces Deal-Making Test in Wrangle Over Global Tax (1)

Treasury Secretary Janet Yellen is facing pressure to move toward a global tax deal by the end of the week as she meets her Group of Seven counterparts for the first time as the world’s most powerful finance minister at a summit in London.

Yellen’s team is downplaying expectations for progress this month, seeing the meetings over the coming days as an opportunity to build momentum toward an international tax agreement at the Group of 20 meetings in July, a U.S. Treasury official said.

That caution is at odds with calls for urgency from European finance ministers, who have painted ...