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Well, that didn't take long...after Trump announced he would stop talking to Canada on trade.
Canadian Prime Minister Mark Carney said late Sunday that trade talks with the U.S. have resumed after Canada rescinded its plan to tax U.S. technology firms, just one day before the first tax payments were due.
The move comes after President Trump announced Friday that he was ending all trade discussions with Canada, effective immediately, which he called “a direct and blatant attack on our country.” Calling Canada "a very difficult country to trade with," Trump said he would decide a tariff rate for Canada within the next week.
The issue stems from Canada's Digital Services Tax (DST), which requires large foreign and domestic businesses to pay a tax on revenue earned from online users in the North American nation. The tax was due to hit companies including Amazon (AMZN), Google (GOOG), Meta (META), Uber (UBER) and Airbnb (ABNB) with a 3% levy on revenue from Canadian users.
“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.
“Rescinding the digital services tax will allow the negotiations of a new economic and security relationship with the United States to make vital progress,” Canadian Finance Minister Francois-Philippe Champagne said in a statement.
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