Mr Sunak previously said the 21 percent for business tax was “higher than where previous discussions were” but said he was open to discussions.
Despite Mr Biden’s proposal being backed by France, Italy and Germany, an expert has warned the only beneficiaries of the plans would be China and Russia.
Author and emeritus professor of sociology at the University of Kent, Frank Furedi told Express.co.uk: “I think there are benefits for the US but not other countries.
“They are entirely dependent on attracting foreign capital and this would undercut them.
“If the Biden proposals are accepted, the main beneficiaries would be China and Russia, who wouldn’t go along with this but will continue to have low corporation tax rates.”
Mr Furedi went on to say how the proposed corporation tax would create “particular problems” for a Brexit Britain and accused Mr Biden of encroaching “upon policymaking”.
READ MORE: Gordon Brown wades in to Joe Biden tax row
“But Biden is not interested in what Sunak is interested in, taxing these big digital companies, because he wants American companies to be as competitive as possible.
“He doesn’t much care about our priorities.
“I think what he is really doing is pushing forward an economic policy that the whole world subsidies his economic program.”
They said: “Reaching an international agreement on how large digital companies are taxed is a priority for the Chancellor.
“However, it also matters where the tax is paid and any agreement must ensure digital businesses pay tax in the UK that reflects their economic activities.
“We welcome the US’ renewed commitment to tackling the issue and agree that minimum taxes might help to ensure businesses pay tax.
“However, it also matters where the tax is paid and any agreement must ensure digital businesses pay tax in the UK that reflects their economic activities.”
This post originally appeared on Daily Express :: World Feed