The cancellation of the digital services tax from Canada supports optimism
This rise came after Canada announced its reversal on imposing the digital services tax, in a move aimed at creating an atmosphere to facilitate trade negotiations with the United States. U.S. President Donald Trump stated on Friday that the United States "has ended all trade negotiations with Canada," in response to the proposed tax.
The first payments related to that tax were scheduled to begin on Monday and would have included major tech companies such as Google (NASDAQ: GOOGL), Meta, and Amazon (NASDAQ: AMZN). Following the Canadian decision, shares of Meta Platforms (NASDAQ: META) and Alphabet (the parent company of Google) rose by nearly 1% each.
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