In an attempt to crack down on tax havens. The G7 leaders agreed on setting international minimum levels for corporation tax.

“Together we can use a global minimum tax to make sure the global economy thrives based on a more level playing field in the taxation of multinational corporations, and spurs innovation, growth, and prosperity,” Treasury Secretary Janet Yellen  said.

In the U.S. Biden is pushing to raise corporation tax from 21% to 28%.

Read More: Fox News