Canada has decided to abandon its Digital Services Tax aimed at US tech giants like Amazon and Google, following threats from President Trump to halt trade discussions. Set to charge a 3% fee on revenues from various online services, the tax would have impacted around $3 billion in revenue collection. Canada's finance minister stated that rescinding this tax will enhance negotiations for a stronger economic relationship with the US, while Canada contends with existing tariffs on imports.
Rescinding the digital services tax will allow the negotiations of a new economic and security relationship with the United States to make vital progress and reinforce our work to create jobs and build prosperity for all Canadians.
President Trump called Canada's digital services tax a "blatant attack on our country" and said the US is "terminating ALL discussions on trade with Canada" as a result of the country's decision to move forward with the fee.
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