Trump says he's terminating trade talks with Canada over tax on technology firms
Trump said Friday in a post on his social media network Canada had just informed the U.S. that it was sticking to its plan to impose the tax set to take effect Monday.
Canada's digital services tax requires Canadian and foreign businesses that engage with online users in Canada. The digital services tax will hit companies like Amazon, Google, Meta, Uber and Airbnb with a 3% levy on revenue from Canadian users. It will apply retroactively, leaving U.S. companies with a $2 billion US bill due at the end of the month.
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