U.S. President Donald Trump announced the immediate suspension of trade negotiations with Canada due to its decision to impose a 3% digital services tax on technology companies like Amazon, Google, and Meta. He described the tax as a blatant attack on the U.S., especially since it targets foreign companies engaging with Canadian users. The new tax, which will take effect imminently, applies retroactively and could result in U.S. firms facing a hefty bill of $2 billion by the month's end, complicating cross-border economic relations.
US President Donald Trump announced the suspension of trade talks with Canada after their decision to implement a digital services tax, which he criticized as a direct attack.
The Canadian digital services tax targets both Canadian and foreign tech companies, imposing a 3% levy on revenue generated from Canadian users, effective immediately.
The tax is set to apply to major tech firms such as Amazon, Google, and Meta, creating a retrospective financial burden estimated at $2 billion for U.S. companies.
Trump's remarks highlight the escalating tensions in U.S.-Canada trade relations, as he expressed strong opposition to Canada's planned tax measures aiming to monetize digital interactions.
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