President Donald Trump on Monday declared that a global corporate minimum tax deal "has no force or effect" in the U.S., effectively pulling America out of the landmark 2021 arrangement negotiated by the Biden administration with nearly 140 countries.

The Trump administration's decision to withdraw from the OECD's global tax deal will impact international consensus on a global minimum tax, but India remains unaffected. Experts note that the US exit will disrupt countries already adopting the Global anti-Base Erosion Model rules.