The trump tax changes actually did. IIRC, a US corporation is taxed either 20% of US net income or 10% of global net income with credits for overseas taxes paid, whichever is more. Corrections welcome, I likely misremembered something. The idea being if you paid at least 10% on the income in the jurisdiction where it was earned, great; if not, you'll pay it at home.
This replaced a higher rate on US net income and global net income that lands in the US.
This replaced a higher rate on US net income and global net income that lands in the US.