In a bid to maintain favorable trade relations, Canada scrapped its digital services tax aimed at U.S. tech giants like Google and Amazon, following President Trump's threats of higher tariffs. This last-minute decision was made by Canada's Finance Minister as trade talks with the U.S. are set to resume, with hopes of reaching an agreement by July 21. The tax, initially slated to be implemented soon, had faced significant blowback from the Trump administration, which launched an aggressive defense against what it termed a "blatant attack."
Canada's decision to rescind the digital services tax aims to smooth trade relations with the U.S. and avoid retaliatory tariffs amid ongoing negotiations.
Canada's Finance Minister indicated that the tax was lifted to pave the way for a comprehensive trade arrangement with the U.S., highlighting the importance of this partnership.
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