Saleha Mohsin

Treasury Secretary Janet Yellen added an international tax policy expert to her staff as the U.S. reverses a Trump-era stance over digital taxation of technology companies.

The U.S. has dropped a key demand in negotiations over digital taxation of technology companies such as Alphabet Inc.’s Google and Facebook Inc., lifting a barrier that had raised transatlantic trade tensions and prevented an international deal.

U.S. Treasury Secretary Janet Yellen on Wednesday talked with her U.K. and German counterparts about resolving mushrooming disputes over the taxation of internet giants such as Facebook Inc., highlighting the issue as a priority in her initial bilateral calls.

Janet Yellen won confirmation to become U.S. Treasury secretary, building out President Joe Biden’s team as the administration struggles to win bipartisan support for a $1.9 trillion COVID-19 relief plan for shoring up a weakening economic recovery.

The Treasury Secretary-designate said she would work with lawmakers to fast-track a series of tax increases on corporations and wealthy Americans.

Gary Gensler, a former head of the U.S.’s main derivatives regulator, is President-elect Joe Biden’s likely pick to lead the Securities and Exchange Commission, according to two people familiar with the matter.

The Treasury secretary will put the unspent CARES Act funding into an account that his presumed successor will soon need authorization from Congress to use.

The former Fed chair would be the first woman to head the Treasury.

The administration wants employers, not employees, to be responsible for paying back the Social Security levies when they come due next year.

A high-powered group of U.S. regulators said stock exchanges should set new rules that could trigger the delisting of Chinese companies, following mounting concerns that investors are being exposed to frauds.