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Trump ends trade talks with Canada over tax on US tech firms (www.lemonde.fr)

submitted 5 days ago by bytesonbike@discuss.online to c/usa@midwest.social

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President Donald Trump said on Friday, June 27, that he is calling off trade negotiations with Canada in retaliation for taxes impacting US tech firms, adding that Ottawa will learn of their new tariff rate within a week.

Trump was referring to Canada's digital services tax, which was enacted last year and forecast to bring in Can$5.9 billion (US4.2 billion) over five years. While the measure is not new, US service providers will be "on the hook for a multi-billion dollar payment in Canada" come June 30, noted the Computer & Communications Industry Association recently.

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[–] floofloof@lemmy.ca 7 points 5 days ago (1 children)

Only poor people should pay taxes, in the Republican mind.

[–] HexadecimalSky@lemmy.world 6 points 5 days ago

In the age old, wise words of President Hoover, Don't need to do anything, the great depression is a poor person problem. All this just affects the poor people, no need to lift a finger. /sarcasm/ (Although that is why he didn't do anything)