Trump has broken off trade talks, blaming Canada’s plan to impose a digital services tax on big American tech companies starting on Monday. Plus he’s threatening new tariffs.
Trump’s decision breaks a commitment he made to Prime Minister Mark Carney at the G7 Summit to work towards easing a series of punishing tariffs by mid-July.
No one should be surprised by King Taco’s latest move. He has consistently shown to be unreliable, cruel, stupid, and inept.
Video » Global News: Canada’s digital services tax helps push Trump to axe trade talks
Trump on Friday said he was suspending all trade talks with Canada — and making plans to force Americans to pay high import taxes on its goods — after the northern ally’s finance department confirmed plans to collect a digital services tax.
The late afternoon move quickly caused markets to spiral amid fears of a return to the president’s self-inflicted trade war.
In a post on Truth Social, the president complained that he had “just been informed” about the Canadian government’s decision, which will see it require payment of a 3-percent tax on revenue collected from Canadian users of digital platforms such as Facebook, Instagram and X, above $14.6 million in a calendar year retroactive to 2022.
The tax could saddle American technology companies with bills as large as $2 billion for the first retroactive payments.
CBC – The American says he’s ending ‘all discussions on trade with Canada’ effective immediately
Bloomberg – Trump Ends Trade Talks With Canada, Threatens to Set Tariff
