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The G7 will be held in the United Kingdom from 11-13 June. Australia joins India, South Korea and South Africa as an invited participant in addition to the set Group of 7 countries. The big story ahead of the summit is the agreement between finance ministers to establish a global minimum corporate tax rate of 15 per cent. United States Studies Centre Director of Trade and Investment Dr Stephen Kirchner noted in analysis for AFR that while US investment in Australia has declined due to the country's high tax rate, the global minimum could benefit Australia through leveling the playing field with more open economies. The agreement is a positive indicator that the Biden administration’s push for the US to return to international leadership is more than aspirational.