U.S. Treasury chief Yellen urges world to quickly finalize tax deal

U.S. Treasury Secretary Janet Yellen said on Saturday the G20 finance ministers meeting in Italy showed that the world is ready to end the global race to the bottom on corporate taxation and "should now move quickly to finalize the deal."

"In addition to tax, the G20 made good progress on a range of issues, including climate change and the effort to help lower-income nations with their vaccine rollout so the world can finally neutralize the threat of COVID-19," Yellen said in a statement, adding that multilateral cooperation can make the United States more competitive in the global economy.