Internet reports that the U.S. Treasury Department announced an agreement with G7 allies that will protect U.S. companies from taxes levied by some countries. In exchange, the Trump administration will remove the "899 retaliation tax clause" from the "Big and Beautiful" tax reform bill. U.S. Treasury Secretary Bessant said on Thursday: "The global minimum tax policy under the OECD Pillar 2 framework will not apply to U.S. companies. We will work with other OECD-G20 Inclusive Framework members to implement this agreement in the coming weeks and months." He added that based on this progress and consensus, I have asked the House and Senate to remove the protective clause "899". The clause is mainly aimed at allied countries that impose digital services taxes on U.S. technology companies or participate in the global minimum corporate tax rate mechanism. Wall Street had previously worried that the policy would reduce the willingness of foreign individuals and companies to invest in the United States.