WASHINGTON: President Barack Obama will travel to Turkey for a G20 summit, followed by stops in the Philippines for the Asia Pacific Economic Cooperation (APEC) meeting and Malaysia for the US-Asean and East Asia summits, the White House said on Monday.
At the G20 summit, leaders from the world’s major economies are due to give final approval to a new plan to crack down on tax evasion by multinational corporations that costs countries at least $100 billion a year.
The 15-point plan aims to tackle low tax bills for the likes of Google, Apple and McDonald’s, which have managed to sharply reduce their taxes while remaining within the law, provoking public outrage in recent years.
Obama “will spur international efforts to ensure strong, sustainable and balanced global economic growth” during the talks, White House spokesman Josh Earnest said in a statement.
The APEC and the Malaysia meetings “underscore America’s support for Asia’s regional institutions, which enhance security and prosperity, while also advancing the US strategy to rebalance to the Asia-Pacific region in all of its dimensions,” Earnest added.
“These visits also will support the President’s efforts to expand opportunities for American businesses and workers to sell their products in some of the world’s fastest-growing markets,” he said. AFP