It may turn out to be a blessing that this second, and wilder Trump administration has coincided with the best opportunity for a century to rewrite international tax rules and their global governance. Policymakers across the OECD have the chance now to stand for multilateral cooperation and simultaneously to defend their own tax sovereignty and revenues – those of their own people.
Joining the collective negotiation of an effective and inclusive means of international tax cooperation is the smartest move politically, and the strongest move economically in the tax and trade wars that the Trump administration seems intent on starting.