[Epoch Times, July 12, 2021](Epoch Times reporter Xu Jian comprehensive report) U.S. Treasury Secretary Janet Yellen visited the European Union for the first time as the U.S. Treasury Secretary. She promoted the restoration of the relationship between the United States and the European Union. Urge EU member states to assist the United States and fight against the CCP and Russia together.
Bloomberg reported on July 12 that Yellen reiterated the “partnership” between the United States and Europe and the “rules-based international order” built after World War II. She then named three countries: the CCP, Belarus, and Russia, saying that they undermined International order.
Yellen said at the EU Finance Ministers’ Meeting: “We need to work together to address the threats to the principles of open and fair trade, transparency and accountability. These challenges include China’s unfair economic practices, malicious behavior, and human rights; The evil deeds of the Lukashenko regime in Belarus; Russia’s continued and escalating malicious behavior.”
At the two-day G20 Finance Ministers Summit, the finance ministers of the 20 countries reached an agreement to set a minimum tax rate of at least 15% for global companies. The agreement should be completed before the summit of the 20-nation summit in October and implemented from 2023. This will be a landmark move that will effectively prevent multinational companies from transferring their profits to a low-tax paradise.
Prior to this, Yellen stated that the United States would not agree to give any special treatment to the CCP or other countries. She said on June 16, “Any exemption will significantly weaken the world’s lowest corporate tax, so we will not agree, nor will it to China or other countries. We hope that corporate tax will work and not be full of loopholes.”
She also said on the same day that the United States is expected to decouple from the CCP in certain areas in order to protect national security, but she is worried that the United States and China may completely cut off ties in terms of technology. “We are studying all the tools we currently have to fight back. Correcting (the CCP) damages our national security and broader economic interests,” she said.
Editor in charge: Lin Yan#
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