Critical Pillar 1 Discussions at G20 Summit in Rio de Janeiro

The future of the OECD Pillar 1 Amount A, which has now extended well past a June 30 deadline, will depend on discussions to be held during the Group of 20 finance leaders meeting this week.

The stakes in the negotiations are high. A failure to reach agreement on final terms could prompt several countries to reinstate their taxes on U.S. tech giants and risk punitive duties on billions of dollars in exports to the U.S.

Standstill agreements under which Washington has suspended threatened tr…