Mark Carney rescinded the tax on US tech firms, and trade talks are back on.
The trade negotiations between the US and Canada are back in play, after the Liberal government of Ottawa walked back its decision to tax American Tech firms.
BREAKING: Canada bends knee to President Trump and drops tax that targeted US tech firms
— Election Wizard (@ElectionWiz) June 30, 2025
Canadian Prime Minister Mark Carney announced the developments yesterday (29), after US President Donald J. Trump suspended trade talks over their insistence to pursue the tax on technology companies.
Trump went as far as to call the tax – that was set to start today (30) – as a ‘direct and blatant attack on our country’.
President Trump after canceling all trade talks with Canada: “We have all the cards… Economically, we have such power over Canada. I’d rather not use it.”
pic.twitter.com/WKGCAsWDsl
— Benny Johnson (@bennyjohnson) June 27, 2025
Euronews reported:
“Both the American and Canadian leaders reportedly spoke on the phone on Sunday, and Carney’s office said they agreed to resume negotiations. The Canadian government said ‘in anticipation’ of a trade deal ‘Canada would rescind’ the deal.
‘Today’s announcement will support a resumption of negotiations toward the July 21, 2025, timeline set out at this month’s G7 Leaders’ Summit in Kananaskis’, Carney said in a statement.”
Relations between the US and Canada are complicated/Credit: Fox News screenshot.
During Trump’s trip to Canada for the G7 summit, the countries set a 30-day-deadline for trade talks.
“Canada’s Digital Services Tax was due to his companies like Amazon, Google and Meta with a 3% levy on revenue from Canadian users. It would have applied retroactively, leaving US companies with a $2 billion bill due at the end of the month.”
Canada – along with the European Union – have been one of the toughest trade deals to make, with Trump repeatedly criticizing the country for relying on US subsidizing their economy via unfair trade practices.
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