Summary
President Trump announced he is stopping trade negotiations with Canada due to Canada's new digital services tax on technology companies. The tax affects companies like Amazon and Google and is set to begin on Monday, with a 3% charge on revenue from Canadian users.
Key Facts
- President Trump paused trade talks with Canada because of Canada's digital services tax.
- The tax applies a 3% charge on earnings from Canadian users for some tech companies.
- Affected companies include Amazon, Google, Meta, Uber, and Airbnb.
- Canada plans to start enforcing the tax on Monday.
- Trump mentioned stopping all trade discussions with Canada immediately.
- Trump stated that the U.S. will announce a new tariff for Canadian businesses within a week.
- Canada and the U.S. previously set a 30-day deadline for trade discussions.
- The U.S. has also imposed several tariffs on various goods from other countries.
