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Tag: Digital Services Tax

Canada Scraps Digital Tax to Revive Stalled US Trade Negotiations

Canada Scraps Digital Tax to Revive Stalled US Trade Negotiations

Canada Scraps Digital Tax to Revive Stalled US Trade Negotiations Canada has announced the immediate rescission of its controversial digital services tax, a move aimed at jumpstarting critical trade negotiations with the United States. The decision comes just days after former US President Donald Trump abruptly halted discussions over the levy. Canadian Prime Minister Mark Carney and former US President Donald Trump are set to resume trade talks, with a target date of July 21 for a potential agreement, according…

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Trump Halts Canada Trade Talks, Deepening Tariff Uncertainty for Businesses

Trump Halts Canada Trade Talks, Deepening Tariff Uncertainty for Businesses

Trump Halts Canada Trade Talks, Deepening Tariff Uncertainty for Businesses President Donald Trump has abruptly terminated trade discussions with Canada, citing disagreements over Canada’s digital services tax. This sudden breakdown, announced via social media on Friday, plunges Canadian businesses further into uncertainty, exacerbating an already volatile tariff dispute. The move comes as Canada’s economy shows significant strain, growing only 0.8% in the first quarter of 2025 and contracting by 0.1% in April. This slowdown is largely attributed to the ongoing…

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US-Canada Trade War Escalates: Trump Suspends Talks as Digital Tax Takes Effect Monday

US-Canada Trade War Escalates: Trump Suspends Talks as Digital Tax Takes Effect Monday

US-Canada Trade War Escalates: Trump Suspends Talks as Digital Tax Takes Effect Monday President Donald Trump announced Friday that the United States is immediately suspending all trade discussions with Canada. The abrupt decision comes in response to Canada’s firm stance on implementing its new digital services tax, which Trump labeled a “direct and blatant attack” on the U.S. The controversial digital services tax is set to go into effect this Monday, June 30, imposing a 3% levy on revenue from…

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Trump Halts Canada Trade Talks, S&P 500 Recoils from Record Highs

Trump Halts Canada Trade Talks, S&P 500 Recoils from Record Highs

Trump Halts Canada Trade Talks, S&P 500 Recoils from Record Highs In a major development impacting North American economic relations, former President Donald Trump has abruptly ended all U.S. trade talks with Canada. The cessation of discussions is reportedly due to Canada’s proposed digital services tax, a move that introduces new uncertainty into bilateral trade policies. The announcement immediately influenced market sentiment. While the S&P 500 had earlier surged to touch a fresh record high, it subsequently retreated from that…

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