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U.S. to restart trade negotiations with Canada immediately, White House says
CANADA, JUN 30 – Canada dropped its 3% digital services tax targeting U.S. tech firms to resume trade talks aiming for a deal by July 21, 2025, easing tensions and boosting market optimism.
- The White House announced on Monday that trade negotiations with Canada have resumed after Ottawa rescinded its digital services tax targeting U.S. tech firms, aiming for a deal by July 21.
- Following Ottawa's decision to rescind its 3% digital services tax targeting U.S. tech firms, Trump suspended trade talks last Friday, demanding the tax's removal after the G7 summit.
- The digital services tax, set at 3% on revenue over $20 million retroactive to 2022, would have cost major U.S. tech firms billions, including Amazon, Google, and Apple.
- Following the reversal, stocks reached record highs on Wall Street amid optimism over U.S.-Canada trade negotiations.
- The White House plans to ask additional nations to eliminate their digital services taxes before the July 9 tariff deadline, aiming to expand its global trade strategy.
67 Articles
67 Articles
Canada Obeys In Advance On Big Tech Tax
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The abolition of the digital services tax paves the way for a resumption of negotiations between the United States and Canada, according to the White House
Canada 'caved' to Trump on tech tax
The White House said Monday that Canadian Prime Minister Mark Carney had "caved" to President Donald Trump, after Canada dropped a tax on US tech firms that prompted Trump to call off trade talks. "It's very simple. Prime Minister Carney and Canada caved to President Trump and the United States of America," Press Secretary Karoline Leavitt said in a daily briefing. Leavitt said Trump "knows how to negotiate," adding that "every country on the pl…
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