*Trump Effectively Pulls U.S. Out of Global Corporate Tax Deal, Sparking Global Concern* In a move that could unravel years of international consensus-building, Donald Trump has effectively pulled the United States out of the global corporate tax agreement, dealing a major blow to one of the most ambitious efforts to reform the international tax system. The decision, made shortly after his return to the White House, has sent ripples through financial markets and drawn strong reactions from global economic leaders. The agreement, brokered by the Organisation for Economic Co-operation and Development (OECD) and supported by more than 130 countries, aimed to establish a minimum global corporate tax rate of 15% and introduce fairer taxation of multinational tech giants and other firms operating across borders. The deal was widely seen as a step toward curbing tax base erosion, profit shifting, and the use of offshore tax havens. By withdrawing U.S. support, the Trump administration has effectively undermined the deal’s implementation, given the pivotal role the U.S. plays in global corporate taxation. Many of the world’s largest multinational corporations are American, and without U.S. participation, enforcement of the pact becomes highly uncertain. Trump’s administration cited concerns over economic sovereignty, competitiveness, and potential revenue loss for American companies. The White House stated that the global tax deal was “bad for American workers and businesses,” and that the administration would pursue a domestic tax agenda prioritizing low rates and deregulation. The move has triggered alarm among European allies and developing nations alike. Countries such as France and Germany expressed disappointment, warning that without the U.S., the framework loses legitimacy and could lead to a resurgence of unilateral digital taxes and trade tensions. Experts fear that this decision may prompt fragmentation of global tax policy, with nations reverting to domestic measures to tax foreign firms, potentially leading to double taxation and disputes at the WTO. It also casts doubt on broader global cooperation on economic issues, including digital trade, climate finance, and cross-border regulation. India, which had supported the OECD framework while advocating for fairer digital taxation rights for market jurisdictions, is now expected to reassess its position. Indian policymakers may consider strengthening Equalisation Levy measures or exploring new bilateral tax mechanisms. The collapse of U.S. backing for the global tax deal underscores the volatile direction of international economic diplomacy under Trump’s leadership, raising concerns about long-term multilateralism and the global regulatory order.