Trump says he's ending trade talks with Canada over its 'egregious Tax' on technology firms
WASHINGTON (AP) — President Donald Trump said Friday that he's suspending trade talks with Canada over its plans to continue with its tax on technology firms, which he called 'a direct and blatant attack on our country.'
Trump, in a post on his social media network, said Canada had just informed the U.S. that it was sticking to its plan to impose the digital services tax, which applies to Canadian and foreign businesses that engage with online users in Canada. The tax is set to go into effect Monday.
'Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately. We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period,' Trump said in his post.
Canadian Prime Minister Mark Carney said his country would 'continue to conduct these complex negotiations in the best interests of Canadians. It's a negotiation.'
Trump's announcement was the latest swerve in the trade war he's launched since taking office for a second term in January. Progress with Canada has been a roller coaster, starting with the U.S. president poking at the nation's northern neighbor and repeatedly suggesting it would be absorbed as a U.S. state.
Carney visited Trump in May at the White House, where he was polite but firm with Trump. Trump last week traveled to Canada for the G7 summit in Alberta, where Carney said that Canada and the U.S. had set a 30-day deadline for trade talks.
The digital services tax will hit companies including 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 U.S. bill due at the end of the month.
The Republican president earlier told reporters that the U.S. was soon preparing to send letters to different countries, informing them of the new tariff rate his administration would impose on them.
Trump has imposed 50% tariffs on steel and aluminum as well as 25% tariffs on autos. He is also charging a 10% tax on imports from most countries, though he could raise rates on July 9, after the 90-day negotiating period set by him would expire.
Canada and Mexico face separate tariffs of as much as 25% that Trump put into place under the auspices of stopping fentanyl smuggling, though some products are still protected under the 2020 U.S.-Mexico-Canada Agreement signed during Trump's first term.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
34 minutes ago
- Business Upturn
President Donald J. Trump Calls on LindellTV Lady in Red Reporter, Cara Castronuova of Mike Lindell Media Corp. OTC: (MLMC) in the White House Briefing Room
By GlobeNewswire Published on June 28, 2025, 01:03 IST Washington, D.C. , June 27, 2025 (GLOBE NEWSWIRE) — Mike Lindell Media Corp. (OTC: MLMC) Reporter Cara Castronuova was called on by President Trump for a question today in the White House Briefing Room during a Press Conference as the President said, 'red dress.' The President was visibly appreciative of Ms. Castronuova's question which asked about potentially appointing a Special Prosecutor and also inquired about the taboo subject, the 2020 election. Additionally, she asked President Trump about rogue judges and the possibility of the President appointing someone at the Department of Justice (DOJ) Mike Lindell, Chairman and CEO of LindellTV and Mike Lindell Media Corp. said, 'Cara Castonuova asked the perfect question of our Great President. We have to address the 2020 stolen election and we have to secure our our election platforms. We know 2020 was not right. All people should be very concerned, not just Republicans, but everyone. Our Great President knows we have to secure our election platforms or these next four years are going to be in vain. We must go to paper ballots — hand counted! What a blessing that the President called upon our reporter, Cara Castronuova!' For media inquiries or further information, please contact:Mike Lindell or [email protected] ABOUT MIKE LINDELL MEDIA, CORP. Mike Lindell Media, Corp. operates a conservative broadcast network to provide a conservative alternative to mainstream media outlets through its platforms at (launched in April 2021 and rebranded as Lindell-TV in February 2025) and (launched as FrankSocial in April 2022 and rebranded as VOCL in September 2024) (collectively the 'Platforms'). The Company has grown to serve over 7 million monthly viewers on its Platforms. The Company strives to provide accurate, unbiased and timely reporting. Recently, the Company was granted press access for its reporters to White House press conferences under the Trump administration. The Company will report primarily from Washington, D.C., inside and outside the White House, covering United States and world events. Visit to learn more. Media Contact: For media inquiries or further information, please contact:Mike Lindell or [email protected] [email protected] Forward Looking Statements: This press release contains forward-looking statements, including statements related to the business, operations and future plans of Mike Lindell Media, Corp. within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934, that involve substantial risks and uncertainties. All statements, other than statements of historical facts, including statements regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans and objectives of management and expected market growth are forward-looking statements. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'would', 'will': and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. The Company believes that its primary risk factors include, but are not limited to its limited capital resources and its need for substantial financing; the need to develop effective internal process and system; changes in the overall economy; changes in technology, its ability to attract viewers to its platforms, its ability to attract advertisers and paid users to its platforms, the number and size of competitors and the mix of its products and services offered in its markets; and changes in the law and regulatory policy. Additionally, certain information included in this communication contains statements that are forward-looking, such as statements relating to the future anticipated direction of the media industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. These forward statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated. These risks include, among others, risks associated with unproven sales derived from the Company's operations, dependence on its access to WHITE HOUSE events and press conferences, risks associated with the media and communications industry, global or domestic terrorism, energy or power failure, and the risks related to its operations as a news outlet and social media platform. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
San Francisco Chronicle
34 minutes ago
- San Francisco Chronicle
University of Virginia president, pressured over DEI, resigns rather than 'fight federal government'
WASHINGTON (AP) — The president of the University of Virginia, facing heavy pressure from conservative critics and the Trump administration over the school's diversity, equity and inclusion practices, announced Friday that he was resigning rather than 'fight the federal government.' The departure of James Ryan, who had led the school since 2018, represents a dramatic escalation in the Trump administration's effort to reshape higher education. Doing it at a public university marks a new frontier in a campaign that has almost exclusively targeted Ivy League schools. It also widens the rationale behind the government's aggressive tactics, focusing on DEI rather than alleged tolerance of antisemitism. Ryan had faced conservative criticism that he failed to heed federal orders to eliminate DEI policies, and his removal was pushed for by the Justice Department as it investigated the school, according to a person who was not authorized to discuss the matter by name and spoke on condition of anonymity to The Associated Press. Ryan referenced the Trump administration pressure in a statement to the university community Friday in which he said he had submitted his resignation with a 'very heavy heart.' 'To make a long story short, I am inclined to fight for what I believe in, and I believe deeply in this University,' he said. 'But I cannot make a unilateral decision to fight the federal government in order to save my job.' Ryan had already decided that next year would be his last, he said, and remaining in his position until then would be 'knowingly and willingly sacrificing this community.' The New York Times first reported on the resignation and the Justice Department's insistence on it. The Justice Department declined to comment Friday. Ryan's removal is another example of the Trump administration using 'thuggery instead of rational discourse,' said Ted Mitchell, president of the American Council on Education, which represents university presidents. 'This is a dark day for the University of Virginia, a dark day for higher education, and it promises more of the same,' Mitchell said. 'It's clear the administration is not done and will use every tool that it can make or invent to exert its will over higher education.' Virginia's Democratic senators react In a joint statement, Virginia's Democratic senators said it was outrageous that the Trump administration would demand Ryan's resignation over ''culture war' traps.' 'This is a mistake that hurts Virginia's future,' Sens. Mark R. Warner and Tim Kaine said. After campaigning on a promise to end 'wokeness' in education, Trump signed a January action ordering the elimination of DEI programs and 'radical indoctrination' across the nation's schools and universities. The Education Department has opened investigations into dozens of colleges, arguing that diversity initiatives discriminate against white and Asian American students. The response from schools has been scattered. Some have closed DEI offices, ended diversity scholarships and no longer require diversity statements as part of the hiring process. Some others have rebranded DEI work under other names, while some have held firm on diversity policies. The University of Virginia became a flashpoint after conservative critics accused it of simply renaming its DEI initiatives. The school's governing body voted to shutter the DEI office in March and end diversity policies in admissions, hiring, financial aid and other areas. Republican Gov. Glenn Youngkin celebrated the action, declaring that 'DEI is done at the University of Virginia.' Among those drawing attention to the Charlottesville campus was America First Legal, a conservative group founded by Trump aide Stephen Miller. In a May letter to the Justice Department, the group said the university failed to dismantle DEI programs and chose to 'rename, repackage, and redeploy the same unlawful infrastructure under a lexicon of euphemisms.' The group directly took aim at Ryan, noting that he joined hundreds of other college presidents in signing a public statement condemning the 'overreach and political interference' of the Trump administration. On Friday, the group said it will continue to use every available tool to root out what it has called discriminatory systems. 'This week's developments make clear: public universities that accept federal funds do not have a license to violate the Constitution,' Megan Redshaw, an attorney at the group, said in a statement. 'They do not get to impose ideological loyalty tests, enforce race and sex-based preferences, or defy lawful executive authority." Ryan has been leading the school since 2018 Ryan was hired to lead the University of Virginia in 2018 and previously served as the dean of Harvard University's Graduate School of Education. Earlier in his career he spent more than a decade as a law professor at the University of Virginia. A biography on Harvard's website credits Ryan with increasing the 'size, strength and diversity' of the faculty, adding that building a diverse community was a priority. Robert D. Hardie, leader of the University of Virginia's governing board, said he accepted Ryan's resignation with 'profound sadness,' adding that the university 'has forever been changed for the better as a result of Jim's exceptional leadership.' Until now, the White House had directed most of its attention at Harvard University and other elite institutions that Trump sees as bastions of liberalism. Harvard has lost more than $2.6 billion in federal research grants amid its battle with the government, which has also attempted to block the school from hosting foreign students and threatened to revoke its tax-exempt status. Harvard and its $53 billion endowment are uniquely positioned to weather the government's financial pressure. Public universities, however, are far more dependent on taxpayer money and could be more vulnerable. The University of Virginia's $10 billion endowment is among the largest for public universities, while the vast majority have far less. ___
Wall Street Journal
39 minutes ago
- Wall Street Journal
Heard on the Street Recap: What Wall Street Is Talking About
Trump terminated trade talks with Canada. Trade tension reared its head again in the afternoon with President Trump's declaration that discussions with Canada were off. Stocks had hit record highs in earlier trading, after the president said he'd signed a trade deal with China and administration officials indicated more were on the way. Stocks hit record highs before losing ground. The S&P 500 and Nasdaq ended 0.5% higher. The Dow Jones Industrial Average rose 432 points, or about 1%. Nike rose. The sneaker maker said tariffs would add $1 billion to its costs this fiscal year, which the company plans to partly recoup by raising prices on some of its products. But the company's quarterly results on Thursday came in ahead of expectations. The stock ended 15% higher.
