Canada scraps digital tax, paving way for trade talks with US
Canada's finance ministry said the country had decided to delay its implementation, hours before the tax was scheduled to begin. The ministry also confirmed that Prime Minister Mark Carney had spoken to US President Donald Trump and agreed to restart trade negotiations, aiming to reach a new deal by July 21.WHITE HOUSE PRAISES TRUMP'S APPROACHWhite House press secretary Karoline Leavitt credited President Trump's tough stance for Canada's change of heart. "Very simple. Prime Minister Carney in Canada caved to President Trump and the United States of America," Leavitt told reporters. "President Trump knows... that every country on the planet needs to have good trade relationships with the United States."Trump had pushed for Canada to cancel the tax during the recent G7 summit. Hassett said, "It's something that they've studied, now they've agreed to, and for sure, that means that we can get back to the negotiations."advertisementUS Commerce Secretary Howard Lutnick also welcomed the decision on social media, writing: 'Thank you Canada for removing your Digital Services Tax which was intended to stifle American innovation and would have been a deal breaker for any trade deal with America.'Trump reportedly plans to meet with his trade team this week to finalise tariff rates for countries not actively negotiating.PUSHBACK IN CANADADays earlier, Trump had threatened to increase tariffs on Canadian goods and referred to the digital tax as a "blatant attack," ending trade negotiations with Canada. In Canada, the abrupt reversal has generated discussion.Some Canadian experts and opposition leaders criticised Prime Minister Carney for backing down. 'It feels like we're standing down really quickly,' said Vass Bednar of the Canadian Shield Institute for Public Policy. Conservative leader Pierre Poilievre demanded that the Canadian government push harder to secure better terms. 'Canadians need certainty that Liberals will put Canada First and defend Canadian sovereignty in these negotiations,' he said.According to the US Census Bureau, Canada is the country's second-largest trading partner after Mexico. Last year, it exported $412.7 billion worth of goods to the US and purchased $349.4 billion worth of US goods. Canada will face a 50% tariff on its exports of steel and aluminium to the US, even though it was exempt from Trump's extensive April tariffs.- EndsWith inputs from ReutersMust Watch
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
35 minutes ago
- News18
Donald Trump's Dig At Elon Musk Over Subsidies Sends Tesla Stock Into A Tailspin
Last Updated: Trump-Musk Feud: Tesla shares dropped sharply after Donald Trump criticized Elon Musk's reliance on government subsidies. Tesla shares took a sharp hit after US President Donald Trump reignited his feud with Elon Musk- targeting the billionaire's reliance on government support. In a fiery post on Truth Social, Donald Trump accused Elon Musk of being the biggest beneficiary of federal subsidies and suggested that his companies wouldn't survive without taxpayer backing. 'Elon may get more subsidy than any human being in history, by far," Donald Trump wrote, adding, 'Without subsidies, Elon would probably have to close up shop and head back home to South Africa… BIG MONEY TO BE SAVED!!!" Investor Whiplash Amid A Chaotic Year For Tesla Tesla has endured a volatile 2025 as the company has faced shrinking sales, an aging product lineup and repeated delays on long-promised technology rollouts. Elon Musk's time in Washington as head of the controversial Department of Government Efficiency (DOGE) further rattled shareholders, many of whom feared his attention had drifted from the business. In May, after Elon Musk stepped down from the DOGE post, Tesla shares briefly soared- jumping 20% in three days. But investor confidence has seesawed ever since, with each twist in the Elon Musk- Donald Trump relationship pushing the stock higher or lower. First Published: July 01, 2025, 19:45 IST
New Indian Express
36 minutes ago
- New Indian Express
'We're going to teach them how to run away from an alligator': Trump on new immigration detention centre in Florida
OCHOPEE: President Donald Trump will turn a new immigration detention center in a remote area of the Florida Everglades into a symbol of his border crackdown when he visits on Tuesday. The facility, assembled on a remote airstrip with tents and trailers that are normally used after a natural disaster, has been given the nickname "Alligator Alcatraz," a moniker that has alarmed immigrant activists but appeals to the Republican president's aggressive approach to deportations. "This is not a nice business," Trump said while leaving the White House in the morning. Then he joked that "we're going to teach them how to run away from an alligator if they escape prison." "Don't run in a straight line. Run like this," he said, as he moved his hand in a zigzag motion. "And you know what? Your chances go up about 1%." That doesn't seem to be sound advice, though. It's best to dash in one direction in the rare situation when an alligator gives chase, according to a website run by the University of Florida. Ahead of Trump's arrival, local authorities were positioned by the entrance of the airstrip. Media vans and other vehicles were parked along the highway lined by cypress trees. Protestors have often gathered near the facility, which is about 50 miles (80.47 kilometers) west of Miami and could house 5,000 detainees. They've criticized the potential impact on a delicate ecosystem and say Trump is trying to send a cruel message to immigrants — while some Native American leaders have also opposed construction, saying the land is sacred.
Hindustan Times
36 minutes ago
- Hindustan Times
Who is ‘Robert'? Iran-linked hackers threaten to leak emails stolen from Trump aides, ex-porn star Stormy Daniels
Hackers with ties to Iran have warned to release additional emails stolen from President Donald Trump's inner circle, including White House chief of staff Susie Wiles and Roger Stone, after releasing a previous batch to the media before the US presidential election in 2024. Donald Trump and Stormy Daniels The Cybersecurity and Infrastructure Security Agency took to X to describe the threats, which were first reported by Reuters, as a 'calculated smear campaign'. This comes as the Trump administration issued a report, warning that 'Iranian Cyber Actors' might target American companies and 'operators of critical infrastructure.' Three days back, Ayatollah Ali Khamenei, the Supreme Leader, asserted that US and Israeli attacks on Iran's nuclear facilities did not seriously harm the country's nuclear facilities, prompting Trump to announce he was stopping plans to possibly reduce sanctions on Iran. Who is Robert and what we know about Iran-linked hackers group In online chats on Sunday and Monday, hackers using the alias 'Robert' informed Reuters they had approximately 100 gigabytes of emails featuring Wiles, Stone, ex-porn star Stormy Daniels, Trump attorney Lindsey Halligan, and others. While they did not reveal the specifics of the content, they mentioned the possibility of selling the emails. In an indictment filed last September against three Iranians in the case of the 2024 Trump cyberattack, the Justice Department claimed that Iran's Islamic Revolutionary Guard Corps manage the hacking campaign 'Robert'. Also Read: Who is Dany De Andrade? World's hottest cop from Florida goes viral as she issues stern warning ahead of Fourth of July Here's what Cybersecurity and Infrastructure Security Agency said Meanwhile, CISA spokesperson Marci McCarthy reacted to Reuters report, stating that a "hostile foreign adversary" was 'threatening to illegally exploit purportedly stolen and unverified material in an effort to distract, discredit and divide.' According to McCarthy, the 'so-called cyber 'attack' is nothing more than digital propaganda and the targets are no coincidence' and its goal is to 'damage President Trump and discredit honorable public servants' who have distinguished themselves in the US. 'These criminals will be found and will be brought to justice,' he added. Meanwhile, US Attorney General Pam Bondi denounced the hacking as 'an unconscionable cyber-attack'. FBI Director Kash Patel said that anyone linked to any breach of national security would be thoroughly examined and executed to the greatest extent of the law, according to the White House and FBI. Is Iran a bigger threat than Russia to US? Iran emerged as a bigger threat during the 2024 presidential campaign than Russia, which is well-known for its potent propaganda operations and 2016 cyberattacks of significant US political parties, according to Sam Sabin of Axios. Microsoft discovered a number of Iranian entities that operated vigorous phishing and disinformation activities aimed at influencing the results of the 2024 US presidential election. Before the 12-day conflict between Israel and Iran, which ended with a ceasefire mediated by Trump following the U.S. military intervention, the hackers told Reuters they had no plans to launch any additional cyberattacks. 'I am retired, man,' the hackers claimed in May.
