Bloomberg

Yellen confronts clashing deadlines to clinch global tax accord

Janet Yellen, U.S. Treasury secretary, in Brussels on July 12, 2021. Photo: Valeria Mongelli.

Treasury Secretary Janet Yellen will have to manage two separate sets of delicate negotiations this fall around a global corporate-tax accord, each with clashing deadlines that could threaten the ultimate success of the deal.

Group of 20 nations plan to finalize the details of a landmark global minimum tax and a rewrite of international tax rules at a summit in late October. That's also right when congressional Democrats hope to be nearing passage of a $3.5 trillion bill that's the party's one shot to make much of President Joe Biden's economic agenda a reality. Any change in the parameters in one negotiation risks jeopardizing the other deal...

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