Big news in the world of trade and tech! US President Donald Trump announced on Friday that all trade talks with Canada are now off the table. This decision comes after Canada introduced a digital services tax on US tech companies, a move that Trump described as an 'egregious' attack on American firms.
In his energetic post on social media, Trump was clear: the tax—modeled after measures in the European Union—is unacceptable, and he vowed to retaliate with fresh US tariffs on Canadian businesses within the next seven days. This bold step marks a significant shift in the ongoing dialogue between the two neighboring nations.
Meanwhile, the US is busy winding up several trade discussions as a self-imposed deadline of July 9 looms. However, White House Press Secretary Karoline Leavitt mentioned there might be an extension, suggesting that the trade policy scene is still very much in flux.
For our tech-savvy friends and digital entrepreneurs in South and Southeast Asia, this saga is a reminder of how evolving digital policies can stir global debates and affect markets worldwide. Stay tuned for more updates and share your thoughts on what this means for the future of digital trade! 💬
Reference(s):
cgtn.com
