Category: Taxation
What Happened to the Global Minimum Tax?
When President Trump withdrew the US from the global minimum tax in early 2025, many declared Pillar Two dead, but 147 countries struck a new deal in January 2026 that kept it alive. Two new studies assess the damage: the GMT remains welfare-improving for most countries even without the US, but the deal’s fine print risks creating unequal tax competition within the EU.