The U.S. and other major economies (G-7 nations) have cut a deal to give American companies a break on certain corporate taxes tied to a 2021 global minimum-tax agreement. Essentially, they’re tweaking the rules so U.S. firms won’t get hit as hard by the original plan.

Editor’s Note: This isn’t just accounting jargon—it’s a big deal for multinational companies trying to navigate global tax rules. The 2021 agreement was supposed to stop corporations from dodging taxes by shifting profits overseas, but now the U.S. is carving out exceptions to protect its own businesses. It shows how tricky it is to balance fair taxation with keeping companies competitive. Watch for ripple effects—other countries might push for their own exemptions next.