In response to Canada's new digital services tax, which targets revenues from foreign tech companies, US President Trump has halted trade negotiations and is poised to impose new tariffs on Canadian exports. He characterized Canada's tax as an attack on the US economy, asserting it would cost American firms billions and retrogress trade relations previously improved under Canada’s Prime Minister Mark Carney. With extensive trade links, such tariffs could impact economies both sides of the border, especially in vital sectors, affecting US companies facing $2 billion in potential fees under the new tax.
US President Donald Trump has labeled Canada's new digital services tax as a direct assault on US interests, stating, "We are hereby terminating ALL discussions on Trade with Canada, effective immediately."
The introduction of Canada's digital tax has positioned US companies such as Amazon and Meta to face significant financial burdens, with estimates around $2 billion, leading to escalations in trade tensions.
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