US multinational corporations exempted from global tax deal

U.S. multinational corporations have been exempted from a global tax deal finalized by the Organization for Economic Cooperation and Development.

Nearly 150 countries agreed to the OECD plan that stops large global companies from shifting profits to low-tax countries.

U.S.-based multinational corporations are excluded from the 15% global minimum tax following negotiations by the Trump administration.

Read more from The Associated Press.