Trump says US will terminate trade talks with Canada over tax on technology companies – live | Trump administration

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Trump says US will terminate trade talks with Canada over technology tax

Trump has accused Canada of a “direct and blatant attack” on the US after being informed that the country plans to tax US technology companies. Trump says the US will be “terminating all discussions on trade with Canada” as a result.

Trump wrote on Truth Social:

We have just been informed that Canada, a very difficult Country to TRADE with, including the fact that they have charged our Farmers as much as 400% Tariffs, for years, on Dairy Products, has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our Country.

They are obviously copying the European Union, which has done the same thing, and is currently under discussion with us, also. Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately. We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period.”

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Key events

In Trump’s surprise announcement that he was terminating trade talks with Canada he accused Ottawa of “copying the European Union” with an “egregious” digital services tax on US tech firms.

We’ve yet to hear Canadian PM Mark Carney’s reaction to Trump’s outburst, which imperils a trading relationship that, according to the office of the US trade representative, totalled about $762bn last year.

The tax, which will take effect on 30 June and be applied retroactively from 2022, will impact both domestic and international companies, meaning American giants Amazon, Google, Meta, Airbnb and Uber will have to start payments from Monday.

Last week Ottawa refused to delay the tax in the face of mounting pressure and opposition from the Trump administration during trade negotiations.

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