In the hope of a trade agreement with the United States, the government in Canada will take digital tax for American companies. This was announced by the Canadian Finance Minister François-Philippe Champagne in a government statement. It was also said that US President Donald Trump and Canadian Prime Minister Mark Carney had agreed that both parties would “resume negotiations to combat an agreement by July 21, 2025.
Trump, for the time being, caused customs negotiations with Canada last week due to the digital load of the neighboring country. “Because of this shameful tax, we hereby terminate all commercial interviews with Canada with immediate effect,” Trump wrote on Friday in his online network Truth Social. Canada will find out within a week which rates must be applied for imports in the US.
Trump has set deadlines
The digital load “on our American technology companies” is a “direct and unadorned attack on our country”, Trump continued. “They apparently refer to the European Union, which did the same.” The EU is currently investigating a digital tax for American companies in the customs flict with Trump.
At the beginning of April, Trump had imposed high habits for many states, but then brought it back to ten percent for 90 days shortly thereafter. In the meantime, the aim is to receive concessions from the trading partners.
For the EU, Trump had set a deadline for Canada and many other countries that she will run on 8 July until 9 July. Trump’s spokeswoman Karoline Leavitt said on Thursday that the deadlines could possibly be expanded. Trump’s trade and customs policy has repeatedly caused turbulence on stock markets in recent months.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
