- Canadian Prime Minister Mark Carney announced that Canada would rescind its digital services tax on American technology companies.
- This decision came after Donald Trump said he would suspend trade talks with Canada over the tax, which he called “a direct and blatant attack on our country.”
- The digital services tax, implemented last year, would have imposed a 3 percent levy on major tech firms like Google, Meta, Uber, and Amazon, potentially costing American companies $2 billion retroactively.
- Carney and Trump spoke, agreeing to resume trade negotiations, with a target timeline of 21 July, 2025, for a trade deal.
- The cancellation of the tax aims to put trade talks back on track amid ongoing trade disputes initiated by Donald Trump, including tariffs on Canadian and Mexican imports.
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