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Multilateralism is back: Yellen hails G7 collaboration

LONDON, June 5 (Reuters) - The world’s leading nations can secure historic agreements over tax rates and countering the COVID pandemic when they work together, United States Treasury Secretary Janet Yellen said on Saturday, hailing the level of collaboration at the G7.

Speaking in London after finance ministers at the Group of Seven rich nations had agreed a deal on a minimum corporate tax rate, Yellen said: It’s complicated, this negotiation has been going on for, I believe, eight years.

“It stalled under the Trump administration. And so I really consider this a historic achievement, and it shows that multilateral collaboration can be successful.

“What I’ve seen during my time at this G7 is deep collaboration and a desire to coordinate and address a much broader range of global problems.” (Reporting by Andy Bruce; writing by Kate Holton, editing by David Milliken)

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