The U.S. Treasury on Friday said it was moving to terminate a 1979 tax treaty with Hungary in the wake of Budapest's decision to block the European Union's implementation of a new, 15% global minimum tax. A Treasury spokesperson said that since Hungary lowered its corporate tax rate to 9% - less than half the 21% U.S. rate - the tax treaty unilaterally benefits Hungary. "The benefits are no longer reciprocal - with a significant loss of potential revenues to the United States and little in return for U.S. business and investment in Hungary." The timing of the termination following...