Biden tax proposal in focus at Group of 7 ministers’ meeting

FRANKFURT, Germany (AP) — Finance ministers from the Group of Seven wealthy democracies have a lot to talk about when they gather in London starting Friday. A major topic will be U.S. President Joe Biden’s proposal for a global minimum corporate tax to deter multinationals from shifting their profits to low-tax havens. Ministers at the meeting chaired by Britain’s Rishi Sunak and to be attended by U.S. Treasury Secretary Janet Yellen will talk about supporting the post-pandemic economic recovery and work on restoring cooperation among the seven allies after friction during the term of former President Donald Trump.