We expect it will be fully executed in January. And then we get to' phase two', the most important issue is - lets make sure we implement' phase one' with an enforceable agreement, which it is. And then we start negotiating' phase two'.

Steven Mnuchin

It's not an optional tax, you pay the safe harbor as opposed to paying something else. People may pay a little bit more in a safe harbor knowing they have tax certainty.

I think we all want to get this done by the end of the year, and that's the objective.

You cannot have in a global economy different national tax systems that conflict with each other.

You cannot have in a global economy different national tax systems that conflict with each other, the good news is we're very close to a consensus on pillar 2.

When we talk about the EU, one of the challenges is some of these issues are really only a couple of countries, but I think, as you know, because of the EU we can't negotiate these things on a bilateral basis, one of the challenges of dealing with the EU is even within the EU they have different views.

I'm quite optimistic. I think the prime minister and the president have a very good relationship.

We're focused on trying to get this done this year because we think it's important to both of us.

I think a lot of the issues can be dealt with simultaneously and again we look forward to continuing a great trade relationship, and, if anything, I think there will be significantly more trade between the U.S. and the UK.

The U.S. feels very strongly that any tax that is designed specifically on digital companies is a discriminatory tax and is not appropriate.

International tax issues are very complicated and take a long time to look at. If people want to just arbitrarily put taxes on our digital companies, we'll consider arbitrarily putting taxes on car companies.

I don't think it has any impact on the world economy.