WASHINGTON—U.S. Treasury Secretary Janet Yellen urged Paschal Donohoe, the finance minister of low-tax Ireland, to take a “once in a generation opportunity” for a global deal that would stop a race to the bottom on corporate tax rates, the Treasury said on Wednesday.
Despite pressure from Yellen and European Union officials, Ireland has not wavered in its opposition as an October deadline approaches to finalize a deal for a global minimum tax of at least 15 percent—well above Ireland’s 12.5 percent rate.
