Treasury Secretary Scott Bessent said the Group of 7 agreed that penalties related to a 2021 “global minimum tax” deal will not apply to American companies.
Category: Group of Twenty
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Bessent to Skip G20 Finance Ministers Meeting in South Africa
The Treasury secretary is the second top U.S. official to boycott the Group of 20 gatherings because of rising tension with South Africa over its land policies.
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Biden Administration Looks to Reinforce U.S.-China Ties Ahead of Trump’s Return
Senior Treasury officials are holding a final round of talks with a new round of economic volatility on the horizon.
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Germany’s Economy Stalls Amid Falling Output and Political Bickering
The economy shrank last year and is not predicted to grow much in 2024. Farmers are angry, industrial output is falling and the government is bickering.
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Under Hindu Nationalist Leaders, Sectarian Violence Flares in India
A gunman who killed Muslim train passengers and a Hindu march that turned riotous underscore how the partisan stances of India’s top Hindu leaders have given license to chaotic elements in the country.
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Janet Yellen Calls for Accelerating Debt Relief for Poor Nations
Helping the world’s low-income countries will be a central topic as U.S. Treasury Secretary Janet Yellen and other G20 finance ministers gather in India.
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War in Ukraine Deepens Divide Among Major Economies at G20 Gathering
The New York Times – Business:Treasury Secretary Janet L. Yellen urged her counterparts at a summit in India to condemn Russia’s actions, and she defended the cost of supplying aid to Kyiv.
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Yellen Calls for More Ukraine Support as G20 Finance Ministers Gather
The New York Times – Business:The Treasury secretary offered a dark assessment of Russia’s economy but a more upbeat outlook for the global economic recovery.
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Defaults Loom as Poor Countries Face an Economic Storm
The New York Times – Business:Debt-relief efforts are stalling as developing economies are being hit by higher interest rates, a strong dollar and slowing global growth.
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France Urges U.S. to Change ‘Made in America’ Electric Car Policy
The New York Times – Business:The French finance minister, Bruno Le Maire, said that U.S. subsidies will inflict damage to Europe’s economy.
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France Urges U.S. to Change ‘Made in America’ Electric Car Policy
The New York Times – Business:The French finance minister, Bruno Le Maire, said that U.S. subsidies will inflict damage to Europe’s economy.