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[Federal Register Volume 90, Number 19 (Thursday, January 30, 2025)]
[Presidential Documents]
[Pages 8483-8484]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-02043]



                        Presidential Documents 



Federal Register / Vol. 90, No. 19 / Thursday, January 30, 2025 / 
Presidential Documents

[[Page 8483]]

                Memorandum of January 20, 2025

                
The Organization for Economic Co-Operation and 
                Development (OECD) Global Tax Deal (Global Tax Deal)

                Memorandum for the Secretary of the Treasury[,] the 
                United States Trade Representative[, and] the Permanent 
                Representative of the United States to the Organization 
                for Economic Co-Operation and Development

                The OECD Global Tax Deal supported under the prior 
                administration not only allows extraterritorial 
                jurisdiction over American income but also limits our 
                Nation's ability to enact tax policies that serve the 
                interests of American businesses and workers. Because 
                of the Global Tax Deal and other discriminatory foreign 
                tax practices, American companies may face retaliatory 
                international tax regimes if the United States does not 
                comply with foreign tax policy objectives. This 
                memorandum recaptures our Nation's sovereignty and 
                economic competitiveness by clarifying that the Global 
                Tax Deal has no force or effect in the United States.

                Section 1. Applicability of the Global Tax Deal. The 
                Secretary of the Treasury and the Permanent 
                Representative of the United States to the OECD shall 
                notify the OECD that any commitments made by the prior 
                administration on behalf of the United States with 
                respect to the Global Tax Deal have no force or effect 
                within the United States absent an act by the Congress 
                adopting the relevant provisions of the Global Tax 
                Deal. The Secretary of the Treasury and the United 
                States Trade Representative shall take all additional 
                necessary steps within their authority to otherwise 
                implement the findings of this memorandum.

                Sec. 2. Options for Protection from Discriminatory and 
                Extraterritorial Tax Measures. The Secretary of the 
                Treasury in consultation with the United States Trade 
                Representative shall investigate whether any foreign 
                countries are not in compliance with any tax treaty 
                with the United States or have any tax rules in place, 
                or are likely to put tax rules in place, that are 
                extraterritorial or disproportionately affect American 
                companies, and develop and present to the President, 
                through the Assistant to the President for Economic 
                Policy, a list of options for protective measures or 
                other actions that the United States should adopt or 
                take in response to such non-compliance or tax rules. 
                The Secretary of the Treasury shall deliver findings 
                and recommendations to the President, through the 
                Assistant to the President for Economic Policy, within 
                60 days.

                Sec. 3. General Provisions. (a) Nothing in this 
                memorandum shall be construed to impair or otherwise 
                affect:

(i) the authority granted by law to an executive department, agency, or its 
head; or

(ii) the functions of the Director of OMB relating to budgetary, 
administrative, or legislative proposals.

                    (b) This memorandum shall be implemented consistent 
                with applicable law and subject to the availability of 
                appropriations.

[[Page 8484]]

                    (c) This memorandum is not intended to, and does 
                not, create any right or benefit, substantive or 
                procedural, enforceable at law or in equity by any 
                party against the United States, its departments, 
                agencies, or entities, its officers, employees, or 
                agents, or any other person.
                
                
                    (Presidential Sig.)

                THE WHITE HOUSE,

                    Washington, January 20, 2025

[FR Doc. 2025-02043
Filed 1-29-25; 8:45 am]
Billing code 3395-F4-P
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