Canada has decided to rescind a proposed digital services tax targeting large tech companies following President Trump's criticism that it threatened U.S.-Canada trade relations. The tax was set to be implemented soon, but opposition from Washington and concerns from Canadian businesses about its impact on trade negotiations forced the government to reconsider. Negotiations for a comprehensive trade agreement are set to resume, with hopes for a resolution by mid-July, highlighting the ongoing complexities in U.S.-Canada economic interactions.
"The tax has long drawn opposition from Washington, with the Biden administration arguing that it discriminated against U.S. companies and strained U.S.-Canada ties."
"Trade talks were suspended over the tax, plunging U.S.-Canada relations into deeper turmoil, as Trump targeted Canada with tariffs and threats."
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