5 months Ago
Taxed The Largest U.S. Tech Companies
The tax would have introduced a 3 per cent levy on digital services backdated to 2022 and was expected to cost $3 billion. Some of America's biggest tech companies — think Meta, Alphabet, Amazon and Apple — would have been among the most centrally affected. The measure had prompted threats of another round of tariffs from the U.S., worsening relations.
Leaders Upbeat on Deal by July 21
Canadian Prime Minister Mark Carney said the move was to help Canadian workers and businesses. The removal of the tariffs "enables vital progress to be made in the ongoing trade negotiations," Finance Minister François-Philippe Champagne said. Carney said he hoped to have a new pact in place with the U.S. by July 21. President Trump, who has pledged some of the most aggressive trade policies of any modern president, had already imposed tariffs earlier this year but excluded some goods. Canada is still one of the United States's leading trading partners, with flows in the hundreds of billions a year.
