In a bold move on Friday, U.S. President Donald Trump announced that all trade talks with Canada are terminated. His reason? Canada's new digital services tax on American tech companies has been labeled a "direct and blatant attack" on the United States.
According to Trump’s social media post, the decision comes as the U.S. prepares to notify Canada about tariffs affecting Canadian businesses within the next seven days. This tax, following the European Union's approach, has stirred significant controversy.
The timing is also critical as the United States scrambles to conclude trade talks with several partners before a self-imposed July 9 deadline—although there might be a chance to extend that deadline, as noted by White House Press Secretary Karoline Leavitt.
This unexpected move not only disrupts bilateral trade discussions but also highlights the broader challenges in global economic negotiations. Stay tuned as the story develops! 🚀
Reference(s):
cgtn.com
