This would establish a standard for global minimum taxes, an instrument of power. The history of such instruments of power being repealed without dramatic catastrophe (warfare) is near zero. The failure of such standards to fulfill their intended purpose is high.

Who exactly is ceding what to who here? Extremely naive people seem to think this is a “let’s hold hands and jump into the pool together” idea, as though they’re holding hands with everyone from Gates, Buffett, to bin Salman, Putin and Xi, and that’s going to work.