The Organization for Economic Co-Operation and Development (OECD) Global Tax Deal (Global Tax Deal)

The President has issued a memorandum stating that the OECD Global Tax Deal, which was supported by the previous administration, will not be recognized in the United States unless Congress enacts it into law. This move aims to protect U.S. sovereignty and economic interests by preventing foreign tax policies from imposing on American businesses. The administration will also explore options to counteract any discriminatory or extraterritorial tax measures imposed by other countries, potentially leading to diplomatic and economic tensions as the U.S. seeks to shield its companies from unfavorable international tax regimes.