US Says Progress Made on Tax Negotiations

A readout from the Treasury Department on Sec. Yellen's virtual meeting with G7 finance ministers:

• "Earlier today, U.S. Secretary of the Treasury Janet L. Yellen participated in a productive virtual meeting with her G7 finance minister counterparts to convene on the ongoing efforts to improve the international tax system to make it equitable and equipped to meet the needs of the 21st century global economy. A common understanding was reached on some of the important open issues, to support reaching final political agreement within the OECD Inclusive Framework in October. At the meeting, Secretary Yellen reiterated the importance of reshaping the global tax rules to ensure that profitable corporations pay their fair share and provide governments with the resources to invest in their people and economies."