The talks are the culmination of years of negotiation that took on new momentum with the advent of President Joe Biden’s administration in the U.S.
French Finance Minister Bruno Le Maire said this week that a deal must be achieved soon, on the basis that “it is now or never.” His concern is that without final agreement at a Group of 20 summit later this month, a historic window of opportunity will close as chances of U.S. Congressional approval quickly fade thereafter.