Yellen to bolster tax deal on way to G-7 meeting next week

Treasury Secretary Janet Yellen will travel to Europe next week for meetings with counterparts from top industrial economies, aiming to keep up sanctions pressure on Russia over its invasion of Ukraine and prevent delays to the implementation of a global tax deal.

Yellen will stop in Warsaw and Brussels before traveling to Bonn, Germany, for a May 19-20 meeting of finance ministers and central bank governors from Group of Seven countries, the Treasury said in a statement Monday.

While Yellen is likely to discuss a number of topics while in Warsaw, the visit to comes after the Polish government in April blocked a European Union directive to implement a 15% minimum corporate tax rate across the trading bloc — bringing the EU into line with a crucial part of a global tax deal agreed to in October by almost 140 countries. 

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“The global tax deal is a top priority for the secretary and she is going to continue to push it forward” during her visit to Poland, said Alexandra LaManna, a Treasury spokesperson.