(Reuters) – President Donald Trump on Monday signed an executive action declaring that the global minimum corporate tax treaty supported by the Biden administration and negotiated with more than 100 other countries “does not force or effect” within the US prohibiting an act adopted by Congress. the deal.

“This memorandum restores our Nation’s sovereignty and economy by clarifying that the Global Tax Deal has no force or effect in the United States,” the memorandum said. The document is one of a rush of orders and actions taken by Trump on his first day in office.