Canada has rescinded its digital services tax to reinvigorate trade negotiations with the United States. This tax, set to impose a 3% levy on tech companies' revenues from Canadian users, was criticized by U.S. President Donald Trump, who labeled it unfair. By withdrawing the tax, Canada's government aims to smooth relations and progress discussions, with an agreement targeted by July 21. The move is expected to benefit Canadian workers and businesses while fostering a more stable economic partnership with the U.S., which is Canada's second-largest trading partner.
Canada's decision to revoke the digital services tax is a strategic move to facilitate trade discussions with the United States and mitigate tensions on taxation.
Rescinding the tax allows negotiations for a stronger economic and security relationship with the U.S., essential for Canadian workers and businesses.
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