@Martin Everson In the other FACTA thread you quoted:
"The Model 1A IGAs entered into by the United States acknowledge the need for the United States to achieve equivalent levels of reciprocal automatic information exchange with partner jurisdictions. They also include a political commitment to pursue the adoption of regulations and to advocate and support relevant legislation to achieve such equivalent levels of reciprocal automatic exchange."
However, the US has a long established diplomacy technique where they (the president) enter into agreements only to have them blocked by congress.
So "pursue the adoption .. advodate and support relevant legislation.." the US doesn't work like other countries. Congress doesn't just pass these things that aren't in US interest.
Wikipedia: "The U.S. has yet to comply with FATCA itself, because as of 2017, it has not yet provided the promised reciprocity to its partner countries and it has failed to sign up to the
Common Reporting Standard (CRS)."
From politco
Why America loves being the world's No. 1 tax haven
"
These foreign jurisdictions then promptly changed their laws to allow FATCA data sharing with the United States. Given the difficulty of getting any law passed by this dysfunctional Congress, the best the United States could promise in a reciprocal IGA was, first, to share information that current law already requires U.S. financial institutions to give the IRS about foreign account holders, which is scant indeed, and, second, to “commit to” pursuing equivalent levels of exchange.
But because of those current U.S. banking laws protecting client confidentiality, the reciprocal IGAs create an extremely un-level playing field tilted heavily in America's favor. We weren't giving up the same information other foreign jurisdictions were. And that spells “tax haven.”
Things got worse when the United States resisted signing up to a global version of FATCA, which requires some sharing of information no matter where you are from, for example a French resident with an account in Hong Kong. Other countries did sign on, but the official U.S. position has been that it does not need to because it has FATCA and, in particular, FATCA's reciprocal IGAs. Problem is, of course, that those IGAs are not very reciprocal at all."
