Trump announces the end of trade talks with Canada 🇨🇦
US President Donald Trump announced on Friday that the United States has decided to immediately terminate trade negotiations with Canada in response to the implementation of a new Canadian tax on digital services, which targets major global technology companies, including American companies.
Trump stated via his platform 'Truth Social' that this tax is a 'direct and blatant attack on our country,' noting that it amounts to 3% of the revenues of digital companies –both Canadian and foreign– that exceed annual revenues of $20 million. The tax was approved last year and is set to take effect with the first payments due on June 30.
Trump added, 'We are ending all trade discussions with Canada, effective immediately,' confirming that Washington will announce within seven days the level of tariffs to be imposed on Canadian products exported to the United States.
This escalation comes at a time when Canada is hosting the G7 Leaders' Summit in Canmore, Alberta, where Canadian Prime Minister Mark Carney welcomed President Trump upon his arrival at the summit on June 16.