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Trump ends all trade talks with Canada

Trump ends all trade talks with Canada

President Donald Trump said Friday that he is calling off trade negotiations with Canada in retaliation for taxes impacting major US tech firms, adding that Ottawa will learn of their tariff rate within a week. "Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately," Trump said in a post on his Truth Social platform. Trump said the U.S. has "such power over Canada," and that he's upset the country is following a taxation strategy similar to Europe's. He added that Canada will soon find out the levy it needs to pay to do business in the United States, calling his country's northern neighbor "very difficult" to trade with.

Washington has previously taken issue with Canada's digital services tax, requesting dispute settlement talks last year over the matter. Speaking briefly to reporters before Trump's Oval Office comments, Canada’s PM Carney says he’ll continue talks with Trump.

Set to take effect on June 30, the digital services tax(DST) would have U.S. companies like Amazon, Google, Meta, Uber and Airbnb pay a three per cent levy on revenue from Canadian users. The policy will apply retroactively, leaving U.S. companies with a $2-billion US bill due at the end of the month. These global digital firms are often able to skirt paying taxes in the countries where they operate, and the last Liberal government pitched the DST as a way to bring the tax code up to date and capture revenues earned in Canada by firms located abroad.


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