US halts all trade negotiations with Canada.
Trump Slams the Brakes on US-Canada Trade Talks Over Digital Tax
In a fiery post on his social media platform, Truth Social, President Donald Trump declared that the U.S. has put a hard stop to all trade negotiations with Canada and hinted at imposing new tariffs.
Citing Canada's implementation of a digital services tax (DST) of up to 3% on American tech companies as the primary reason, Trump accused the Canadians of copying the European Union's strategy.
They've gone ahead and levied this digital services tax aiming straight at the heart of our tech industry, just like the EU, embarking on a dubious path that threatens the livelihood of millions of Americans, - Trump raged.
In his view, this brazen move marks the Canadians as having it out for the U.S., putting millions of American jobs at risk when they should be working together on mutual growth. If they prefer drowning us in digital taxes over cooperating in a trade partnership, we're more than ready to hit them with tariffs they won't forget, - he warned.
The dispute surrounds the DST that Canada implemented last June, targeting large digital companies. The U.S. contends that it's discriminatory towards American tech firms, refusing to budge on its demands for Canada to repeal the tax as a precondition to improving trade relations.
As of now, the Canadian government remains steadfast in its intention to continue negotiations, even as tensions rise over the DST dispute. However, the threat of U.S. tariffs hangs heavy in the air, with seven days allocated for Canada to reconsider its stance or face the consequences[1].
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[1] Sources: Charter97.org (Link)
- President Donald Trump's threat on Truth Social indicates a shift in the general news, as he proposed imposing tariffs on Canada due to their policy-and-legislation that includes a digital services tax, which he believes is harmful to the US tech industry and the livelihood of millions of Americans.
- The ongoing politics between the US and Canada over the digital services tax has intensified, with Trump accusing Canada of following the EU's strategy and warning them of tariffs if they persist on this path, highlighting the potential impact on trade partnerships and mutual growth in policy-and-legislation.
