Yellen's 'crucial' role in G7 tax agreement shows 'multilateralism is back,' EU official says

Treasury Secretary Janet Yellen garnered praise Saturday for her role in brokering a Group of Seven agreement to back a 15 percent global minimum corporate tax, a move she called "significant and unprecedented."

Per Italy's Reppublica, Paolo Gentiloni, the European Union commissioner for economy, said the "extraordinary" deal "wouldn't have been possible without the recent change of the U.S. administration. Multilateralism is back. Yellen was crucial. Six months ago we were in the middle of nowhere."

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Tim O'Donnell

Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.