Sunday, 6 Jul 2025
Subscribe
pontesud.com
  • News
  • Mediterranean
  • North
  • South
  • Culture
  • Economy
  • Education
  • Other
    • Technology
    • Youth
    • Travelling
    • Sport
    • Variety
  • AR
  • IT
  • 🔥
  • News
  • Economy
  • Co-Op & Diplomacy
  • Uncategorized
  • Politics
  • Culture
  • Sport
  • Technology
  • War
  • Variety
Font ResizerAa
pontesud.compontesud.com
  • News
  • Mediterranean
  • North
  • South
  • Culture
  • Economy
  • Education
  • Other
  • AR
  • IT
Search
  • News
  • Mediterranean
  • North
  • South
  • Culture
  • Economy
  • Education
  • Other
    • Technology
    • Youth
    • Travelling
    • Sport
    • Variety
  • AR
  • IT
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
pontesud.com > Blog > Co-Op & Diplomacy > Canada drops tech tax to restart US trade talks
Co-Op & DiplomacyNewsPolitics

Canada drops tech tax to restart US trade talks

Chiquera Swanepoel
Last updated: June 30, 2025 10:26 am
Chiquera Swanepoel
Share
SHARE

London: PonteSud – News Desk

Canada has scrapped a tax on big US technology firms, just hours before it was due to come into force, to allow trade talks between the two countries to restart.

On Friday, US President Donald Trump called off negotiations over a trade deal, describing the tax as a “blatant attack”, and threatened higher tariffs on imports from Canada.

In response, Canada has said it is removing the tax, which should have come into effect on Monday.

The digital services tax (DST) would have meant US tech giants including Amazon, Meta, Google and Apple, facing a 3% charge on Canadian revenue above $20m.

Canada’s finance minister François-Philippe Champagne issued a statement saying the tax would be rescinded.

“The DST was announced in 2020 to address the fact that many large technology companies operating in Canada may not otherwise pay tax on revenues generated from Canadians,” it said.

“Canada’s preference has always been a multilateral agreement related to digital services taxation,” the statement added.

Many countries, including the UK, are changing how they tax large multinational technology firms, which have millions of customers and advertisers around the world, but high corporation tax bills due to the way their businesses are structured.

It was estimated that Canada’s tax would cost the tech giants more than $2bn a year in total. Trump, who has forged a close relationship with tech company owners in his second term in office, has pushed back against such taxes.

He described Canada’s policy as “egregious” adding “economically we have such power over Canada”.

Three quarters of Canada’s goods exports go to the US, worth more than $400bn a year, while Canada takes just 17% of US production.

Canada’s climbdown comes after a rollercoaster few months for US-Canada relations.

Shortly after taking office Trump threatened to impose sweeping new tariffs and even to annex the US’s northern neighbour.

The antagonism helped propel Canada’s Liberal Party, led by former central banker, Mark Carney, back into power.

Since then there appeared to be a rapprochement, with Canada and the US saying they aimed to agree new trade terms by 21 July.

Share This Article
Twitter Email Copy Link Print
Previous Article Rio de Janeiro boosts clean energy and transition
Next Article Indian archaeologists uncover multi-era settlement
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Your Trusted Source for Accurate and Timely Updates!

Our commitment to accuracy, impartiality, and delivering breaking news as it happens has earned us the trust of a vast audience. Stay ahead with real-time updates on the latest events, trends.
FacebookLike
TwitterFollow
InstagramFollow
LinkedInFollow
MediumFollow
QuoraFollow
- Advertisement -
Ad image

Popular Posts

Police General Hosp suspends doctor for procuring sedatives illegally

Bangkok: PonteSud - News Desk Police General Hospital in Bangkok says it has suspended a…

By Anita Bosman

Race and run in a magical display of colour and beauty

Windhoek: PonteSud - News Desk The annually hosted Namaqua Quest Three-Day MTB and Trail Run…

By Anita Bosman

Qatar strengthens role of private sector in recycling efforts

Doha: PonteSud - News Desk Qatar is set to significantly expand its waste management capabilities…

By Charissa Swanepoel

You Might Also Like

Co-Op & DiplomacyEconomyNews

Jordan-Iraq in positive talks to extend oil import agreement

By Anita Bosman
Co-Op & DiplomacyNews

Malaysia, Indonesia support Palestinia

By Anita Bosman
Co-Op & DiplomacyEconomy

UK Glastonbury Festival opens gates

By Chiquera Swanepoel
EconomyNewsTourism

Mediterranean destinations gain popularity

By Anita Bosman
pontesud.com
Facebook Twitter Youtube Rss Medium

About US


BuzzStream Live News: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.
Top Categories
  • News
Usefull Links
  • Contact Us
  • Advertise with US
  • Complaint
  • Privacy Policy
  • Cookie Policy
  • Submit a Tip
© Foxiz News Network. Ruby Design Company. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?