Gestha warns of Trump's tariff threats after his withdrawal from the global minimum taxation agreement

The Finance Technicians (Gestha) expressed concern about the “serious tariff threats” that could arise from the president's recent decision Donald Trump. The president has chosen to withdraw United States of the agreement promoted by the Organization for Economic Cooperation and Development (OECD), which seeks to guarantee a minimum taxation of 15% for the multinationals worldwide.

Gestha believes that this decision undermines years of work and global consensus achieved since 2008. The threat of imposing tariffs on those countries that maintain this minimum taxation represents a significant challenge for the recently approved complementary tax in Spain and other European countries. This tax, known as Pillar 2, was expected to bring in up to 3.600 billion euros a year in Spain, where currently a quarter of multinationals pay less than 3% of their global profits.

Gestha urges the 27 EU member countries and other nations involved in the OECD's inclusive framework to maintain their commitment to global minimum taxation

In addition, Gestha stresses that this action also negatively affects progress towards Pillar 1 of the same agreement, designed to reallocate tax rights on the most profitable profits to the jurisdictions where such revenues are generated. According to calculations by the OECD, this pillar could redistribute some $200.000 billion in benefits to low- and middle-income countries.

Before this panorama, Gestha calls on the 27 EU member countries and other nations involved in the OECD's inclusive framework to maintain their commitment to global minimum taxation. This would not only mitigate current threats but could also influence a reconsideration by the US government of its current stance.