Trump's Canada Trade Dispute Sparks Market Drop and Tech Tax Controversy
TL;DR Summary
Canada's new digital services tax on large tech companies has led to US retaliation, with President Trump ending trade talks and threatening tariffs, citing the tax as an attack on US interests. The tax targets revenues from digital services used by Canadians and has increased tensions between the two countries, affecting their extensive trade relationship.
- What is Canada’s digital tax and why is Trump killing trade talks over it? Al Jazeera
- Trump halts trade talks with Canada, defending interests of U.S. tech firms The Washington Post
- Starmer urged to act after Trump threatens Commonwealth ally Canada with more tariffs The Independent
- Amazon, Google, Meta, and Uber slapped with $2 billion retroactive tax bill as Trump suspends Canada trade talks Fortune
- Stock market today: S&P 500, Nasdaq pull back from record-setting rally after Trump ends Canada talks Yahoo Finance
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