Tax competition is what keeps governments in check. Taxes are just fees for services in the territory of the state (e.g. security, market access, infrastructure, …). If these services don't warrant paying the fee anymore people and companies should of course leave for better-run places! Nothing else will make governments become more competitive than voting with one's feet. We should really become less sentimental about countries, they are just crude constructs to provide services that need coordination which markets can't as easily provide. Choosing the best service provider is something good as it increases overall efficiency as only sufficiently efficient systems survive in the long run.
Wanting a global minimum tax is like one mafia asking the others to increase their protection charges so their clients don't leave. Such collusion is frowned upon for good reasons in free markets as it leads to worse outcomes due to reduced competition.
I'm hopeful that this idea will not work due to the profitability of breaking the deal and the big number of countries that exist. The US also shouldn't overestimate its importance which seems high but ever-declining.
Wanting a global minimum tax is like one mafia asking the others to increase their protection charges so their clients don't leave. Such collusion is frowned upon for good reasons in free markets as it leads to worse outcomes due to reduced competition.
I'm hopeful that this idea will not work due to the profitability of breaking the deal and the big number of countries that exist. The US also shouldn't overestimate its importance which seems high but ever-declining.