Summary
The U.S. President, Donald Trump, announced that he is ending trade talks with Canada due to a new tax Canada plans to impose on large tech companies. He also stated that new tariffs on goods from Canada will be announced soon.
Key Facts
- President Trump said he is stopping trade discussions with Canada.
- Canada plans to enforce a new tax on large tech companies.
- The two countries were working on a trade deal to finalize by mid-July.
- Both countries have been applying tariffs on each other's goods during a trade dispute earlier this year.
- Trump described the Canadian tax on tech companies as "egregious," or really bad.
- He plans to announce new tariffs on Canadian goods within a week.
- Trump communicated these decisions through social media.
