group of 20 | Leaders approve tax reform for multinational corporations

(Rome) Leaders of the major economies of the Group of Twenty (G20) agreed Saturday in Rome to minimum taxes for multinational companies, while Europeans and Americans reached a truce in their struggle for steel. But talks are going so far as to reach a climate agreement.




Sophie Esten
France media agency

A senior White House official said Saturday night that some elements of the final climate statement are “still under negotiation.”

Even if progress can still be made by the end of the meeting on Sunday, some working copies of the press release being negotiated make NGOs fear that the G20 will go no further than the promises already made during the meeting. The Paris Agreement, and does not commit to a clear timetable for achieving the “zero emissions” goal.

An outcome that will be particularly disappointing, as COP26 opens in Glasgow on Sunday. It will bring together a wide range of countries, but the G20, which includes developed countries such as the United States and members of the European Union, but also large emerging economies such as China, Russia, Brazil or India accounts for 80% of the world. greenhouse gas emissions.

Italian President Sergio Mattarella again appealed on Saturday evening at a dinner for the leaders of the Group of Twenty: “We must not leave to those who come after us a planet afflicted by conflicts, its resources wasted.”

Photo provided by the Italian Presidency, Reuters

Sergio Mattarella, President of Italy, at the G20 Leaders Dinner on Saturday evening

Several thousand people are still demonstrating for the climate on Saturday afternoon in the streets of Rome.

The President of the European Council, Charles Michel, had previously realized that the question was difficult, especially for “some countries that depend on coal”.

Photo by Yara Nardi, Reuters

Demonstrators began gathering on Saturday afternoon in the streets of Rome.

Many emerging countries, including China — whose president Xi Jinping only speaks in Rome by video link, like his Russian counterpart Vladimir Putin — are still highly dependent on this fossil fuel, which emits a lot of carbon dioxide.2, in particular to run their own power plants in the current context of the energy crisis.

“What we really hope to achieve is the G20 commitment to end international coal financing,” the senior US official said Saturday night, also calling for “positive rhetoric on decarbonization. […] from the energy sector” and “more countries” commitment to reduce emissions of methane, another major greenhouse gas besides carbon.

green light for global tax

In the near future, heads of state and government have given the final green light to reform the global tax system, which in particular provides for the introduction of a minimum tax of 15% on multinational corporations, with a view to implementation by 2023.

This “historic agreement,” in the words of US Treasury Secretary Janet Yellen who announced it on Saturday, will be formally adopted in the G20 final statement on Sunday.

Photo Ludovic Marin, Agence France-Presse

Emmanuel Macron, President of the French Republic. In Rome on Saturday

German Chancellor Angela Merkel hailed a “great success” and a “clear sign of justice”.

In Rome, US Commerce Secretary Gina Raimondo unveiled another “historic” agreement, this time to raise some tariffs on steel and aluminum imports that have plagued trade relations between Washington and Brussels since the Trump administration imposed those taxes. This should allow “limited quantities of European imports of steel and aluminum to enter the United States duty-free.”

Photo by Yara Nardi, Reuters

Joe Biden, President of the United States, poses for a photo session at the G20 Summit

European Trade Commissioner Valdis Dombrovskis confirmed the truce on Twitter, and said the deal would be officially announced on Sunday by Commission President Ursula von der Leyen and US President Joe Biden.

A US official announced Saturday that President Biden also plans to meet his Turkish counterpart Recep Tayyip Erdogan that day, amid tensions between the two NATO allies.

Emmanuel Macron will discuss his side face to face with British Prime Minister Boris Johnson, who has complained to Mr.I von der Leyen on “completely unwarranted” threats from Paris over fishing licenses in the post-Brexit Channel.

After a diplomatic offensive with several European leaders, Argentine President Alberto Fernandez, for his part, was able to congratulate himself on Saturday on a “good meeting with the Managing Director of the International Monetary Fund, Kristalina Georgieva, to advance the negotiations” on the debt rescheduling of the South American country. , which he says he is approaching “firmly”.

Leave a Reply

Your email address will not be published. Required fields are marked *