🚨 BREAKING: Canada Walks Back Trade Threat Against U.S., Scraps Digital Services Tax
U.S. Futures rose early on Monday after the Canadian government scrapped its digital-services tax—which would have targeted major U.S. tech giants—in bid to salvage trade talks with the U.S. and placate President Donald Trump, who called the tax a “blatant attack” on the American economy and suspended ongoing trade talks.
In a Truth Social post on Friday, Trump announced he was terminating all trade talks with Canada, saying the country has been “very difficult” to trade with. The president complained about China’s tariffs on U.S. dairy products before lashing out against the DST, saying it targeted “our American Technology Companies, which is a direct and blatant attack on our Country.” Trump suggested that Canada was “copying the European Union” on this matter and said the “egregious Tax” was the reason he was canceling all trade talks. In the post, the president said he would inform Canada the “Tariff that they will be paying to do business” with the U.S. within seven days.
