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British Prime Minister Boris Johnson, French President Emmanuel Macron, German Chancellor Angela Merkel and President Biden, pose prior to a meeting at the G20 summit on Oct. 30 in Rome. Photo: Stefan Rousseau - Pool/Getty Images

President Biden on Saturday at the Group of 20 Summit achieved an endorsement of a 15% global minimum tax from world leaders, according to a senior administration official.

Driving the news: The global minimum tax is a top priority for the Biden administration and the new global minimum seeks to reverse the decline in tax rates on corporations globally, CNN reports.

  • "The President emphasized the importance of this historic deal during his intervention," per the official. "The President also mentioned that while we don’t see eye to eye on every issue, we can tackle shared interests."
  • All G20 leaders came out in support of the global minimum tax, a senior administration official said.

The big picture: Saturday's commitment from G20 leaders comes after more than 130 nations agreed this month to a 15% minimum global tax rate following years of negotiation.

  • The commitment from G20 leaders adds momentum to the global implementation of the corporate minimum tax. Each individual nation will pass its own version of the tax, which could take some time, per CNN.

What they're saying: "[Biden] reminded G20 leaders that new pandemics can arise any time, so it is important that we strengthen global health systems and do more to create the global health security infrastructure to make sure we are prepared against the next pandemic," per the senior administration official.

  • "The President stressed the need for balanced, well supplied, and competitive global energy markets so we don’t undermine this critical moment of economic recovery."

Go deeper: Over 130 countries agree to deal on global corporate tax rate

Go deeper

Nov 24, 2021 - World

U.S. assurances on Iran met with skepticism in the region

Lloyd Austin addresses the Manama Dialogue. Photo: Mazen Mahdi/AFP via Getty

MANAMA, Bahrain — Secretary of Defense Lloyd Austin was among top U.S. officials who spoke at the Manama Dialogue last weekend about the U.S. commitment to stand up to Iran, but their words were met with skepticism.

Why it matters: In the public sessions and in private conversations, many of the Arab and Israeli participants discussed the perception that the U.S. is leaving the region and not projecting sufficient power to deter Iran.

Updated 12 hours ago - Technology

From Malcolm X to "Free Britney," new media shapes the justice system

Illustration: Shoshana Gordon/Axios

True crime documentaries, podcasts and social media campaigns are bringing new attention to real-world legal proceedings — and are often affecting the outcome.

Why it matters: New media platforms can instantly put a national spotlight on cases that have long been forgotten or buried under red tape.

Updated 14 hours ago - Health

The next big bottleneck in the global vaccination effort

Illustration: Rae Cook/Axios

The world still needs more coronavirus vaccines, but an additional bottleneck has emerged in many low-income countries: They need help getting shots in arms.

Why it matters: Increasing vaccination rates across the world is both a humanitarian necessity and the best way to prevent dangerous new variants from emerging, but it increasingly requires complex problem-solving.