On his first day in office, President Trump signed two memoranda, the Global Tax Deal and the America First Trade Policy, covering noteworthy international taxation matters. The Global Tax Deal memorandum formally withdrew the US from the Organization for Economic Cooperation and Development’s (OECD) work regarding a global minimum tax (i.e., Pillar 2).
The America First Trade Policy memorandum addresses US trade stance and, inter alia, instructs the Secretary of the Treasury to investigate any discriminatory and extraterritorial taxes imposed by foreign jurisdictions.
In this Insights, CRA’s Tiago Duarte-Silva and Robin Hart explore the tax impacts of the America First Trade Policy.
Read more about this increased tax risk to non-US companies here.
