The issue has created a divide between the US and its allies in the UK and France, but all 7 countries have agreed on steps toward taxation.

The French finance Minister Bruno Le Maire has been front and center pushing for France to tax giants such as Amazon. Le Maire hosted the two-day event in Chantilly, near Paris, and has hailed the consensus reached by G7 ministers as “unprecedented.” French parliament passed a law earlier in July that would tax large corporations for the income they generate inside France, even if their headquarters are not in France. Le Maire explained that France would be willing to scrap the new law if the international community could agree on a form of taxation specifically for these kinds of companies. The move also caused a row with the US, as American officials have complained that American tax giants such as Facebook, Google, Amazon, and Apple are being unfairly targeted.

Amid the new French tax, the UK has been planning a tax of its own. Now it would appear that G7 finance ministers and central banks have reached an agreement “to tax activities without physical presence, in particular digital activities,” according to Le Maire. “This is the first time that G7 members agree in principle on this,” he went on to explain to reporters.

France has issued a statement saying that G7 representatives have agreed to a “two-pillar solution to be adopted by 2020.” The solution involves the international community agreeing on a minimum tax rate for international digital companies.