U.S. Treasury Secretary Janet Yellen announced to an online gathering of G20 financial officials on Friday that the United States was dropping its opposition to a global tax concept that could result in levies against large international tech companies like Amazon, Alphabet’s Google and Facebook.

The proposal has been suggested under the auspices of the Paris-headquartered Organization for Economic Cooperation and Development (OECD), but was blocked by the Trump administration which insisted on a ”safe harbor” for the major U.S. tech firms.

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The OECD estimates that minimum and digital tax reforms together would boost tax revenues by between $60 billion to $100 billion, or 4% of global corporate income tax.

Read more at NEWSMAX.