Economy

Treasury deputy Adeyemo says U.S. will win support for global minimum tax

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Adewale Adeyemo, Treasury Secretary Janet Yellen’s deputy, on Wednesday said increasing the U.S. corporate tax rate to 28% will not make American companies less competitive, because the Biden administration is confident it can win the support of developed nations to set a minimum tax worldwide.

“We’ve worked very closely with our international counterparts to counter what has been a race to the bottom in terms of international taxation,” Adeyemo, who goes by Wally, told CNBC’s Sara Eisen.

“We believe through both the things we’re going to do globally in terms of the G-20, where the United States has made clear that we’re back and we’re looking forward to leading the world, we’re able to…



Source cnbc.com

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