Biden’s G-7 tax offer will win crucial political points in Europe with tougher battles ahead

With G-7 officials likely to back a U.S proposal for a minimum corporat tax rate, analysts have highlighted how it could help form alliances on geopolitical issues in the years ahead. In an interview with CNBC, HEC Paris Economics Professor Jeremy Ghez comments: “Where Biden and Trump may differ is on the issue of alliances. Trump felt (the Europeans) were of little help and that Europe was as bad as China when it came to trade … Biden believes that with a broad coalition, you may be able to push China down a more constructive path. International pressure, that is pressure not coming from Washington only, could prove useful on any of these topics."