Business

U.S. Treasury’s Yellen to attend G20 finance, climate meetings in Italy

Yellen will meet with G20 counterparts and attend the Venice International Conference on Climate with G20 counterparts on July 11. She will then travel to Brussels to meet with European Union counterparts and the Eurogroup “to discuss U.S. policy priorities and respective efforts to support the economic recovery,” the Treasury said.

Yellen said on Wednesday that she is seeking to win G20 finance ministers’ endorsement of the “core principles” of U.S. proposals to revamp international taxation, including a global minimum corporate tax of at least 15%.

Reuters reported on Tuesday that a draft communique being circulated ahead of the G20 meeting indicated the finance leaders would endorse a global minimum tax, although it made no reference to a specific rate.

“While in Venice, Secretary Yellen will continue to reinforce the U.S. commitment to multilateralism and advance U.S. policy priorities on global tax policy, climate change, an inclusive economic recovery, and global health,” the Treasury said.