logo
Donald Trump terminates trade talks with Canada over new ‘egregious tax'

Donald Trump terminates trade talks with Canada over new ‘egregious tax'

Sky News AUa day ago

US President Donald Trump has abruptly suspended trade negotiations with Canada over plans to continue with its digital technology tax.
'Based on this egregious tax, we are hereby terminating all discussions on trade with Canada, effective immediately,' President Trump said in a Truth Social post.
'We will let Canada know the tariff that they will be paying to do business with the United States of America within the next seven-day period.'

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

ASX 200 soars after US President Donald Trump indicates he will not extend the deadline on his 'Liberation Day' tariffs
ASX 200 soars after US President Donald Trump indicates he will not extend the deadline on his 'Liberation Day' tariffs

Sky News AU

time19 minutes ago

  • Sky News AU

ASX 200 soars after US President Donald Trump indicates he will not extend the deadline on his 'Liberation Day' tariffs

The ASX 200 has jumped on Monday after US President Donald Trump indicated he would not need to extend the deadline on his 'Liberation Day' tariffs. The index has jumped 0.3 per cent in the first 40 minutes of trading with building materials company James Hardie jumping 9.3 per cent, insurance provider nib Group rising 4.6 per cent and fintech company Block adding 3.8 per cent. It comes as the index has surged almost 10 per cent over the past 12 months, driven in part by an almost 48 per cent rise in the market's largest company Commonwealth Bank of Australia. Trump delivered some certainty over his trade policies on Sunday when he told Fox News he did not think his administration would need to extend the July 9 deadline for his sweeping tariffs. 'I don't think I'll need to," he said in response to a question over extending the deadline. This follows White House press secretary Karoline Leavitt last week saying the deadline for Trump's sweeping tariffs may be extended. She noted Trump could "simply provide ... countries with (a) deal if they refuse to make us one by the deadline' and set "a reciprocal tariff rate that he believes is advantageous for the United States'. Pressed on this, Ms Leavitt said: 'Perhaps it could be extended but that's a decision for the president.' On Friday, the S&P 500 added 0.5 per cent, the Dow Jones jumped one per cent and the Nasdaq was up half a per cent. London's FTSE 250 jumped 1.1 per cent, Germany's DAX soared 1.6 per cent and the STOXX Europe 600 added 1.1 per cent on Friday. New Zealand's NZX 50 Index has fallen 0.1 per cent since trading began on Monday, while Japan's Nikkei 225 is up 1.4 per cent.

Elon Musk attacks President Donald Trump's spending bill
Elon Musk attacks President Donald Trump's spending bill

7NEWS

time34 minutes ago

  • 7NEWS

Elon Musk attacks President Donald Trump's spending bill

Elon Musk launched a series of attacks on Saturday against a massive spending bill that would fund much of President Donald Trump's agenda, renewing his criticisms as Senate Republicans rush to pass a package dubbed the 'big, beautiful bill' in order to meet a July 4 deadline set by Trump. 'The latest Senate draft bill will destroy millions of jobs in America and cause immense strategic harm to our country!' Musk wrote in a post on X. 'Utterly insane and destructive. It gives handouts to industries of the past while severely damaging industries of the future.' Know the news with the 7NEWS app: Download today The billionaire and former Trump adviser amplified a poll that suggests the 'big, beautiful bill' is politically unpopular due to its budgetary effects, a notion that was affirmed this month by several separate surveys. Forty percent of Republican respondents to a recent NBC News Decision Desk poll said 'ensuring the national debt is reduced' is the most important issue as Congress considers the Trump-backed mega-bill. Overall, a majority of respondents said maintaining current spending levels on programs like Medicaid is the most important issue. 'Polls show that this bill is political suicide for the Republican Party,' Musk wrote on X. Musk has long been a critic of Trump's 'big, beautiful bill,' balking at its expected impact on the national deficit and arguing that it would offset government savings brought in by the Department of Government Efficiency, an office Trump appointed him to lead earlier this year. He maintained that opinion on Saturday, expressing it through several posts on his platform, X — including one post that attacked the bill's expected effect on the deficit as 'putting America in the fast lane to debt slavery!' Trump previously argued that Musk only opposed the legislation because of provisions aimed at stripping away electric vehicle tax credits. Musk today called a provision in the bill that he framed as targeting clean energy production 'incredibly destructive to America'. The Tesla chief's departure from the White House, where he formally served as a special government employee, came a day after he publicly expressed his criticisms of the bill during an interview with CBS Sunday Morning. 'I think a bill can be big or it can be beautiful, I don't know if it can be both,' Musk said at the time. While Musk no longer commands similar levels of influence in Washington, his past opposition to the bill emboldened Republicans lawmakers, some of whom, like Musk, took issue with its expected $US 4 trillion ($A 6 trillion) increase to the national deficit. The renewed criticism by Musk comes as Senate Republicans rush to whip enough votes to pass the 940-page mega-bill amid breaks in the party over certain provisions, including expected cuts to Medicaid that could strip funding from rural hospitals. Senator Thom Tillis, cited the loss of rural hospital funding in explaining his decision to oppose the bill. Earlier this month, shortly after the House of Representatives passed its version of the bill, Musk urged his more than 200 million followers on X to tell Congress to 'kill the bill.'

MSNBC host has meltdown over Supreme Court's birthright citizenship ruling
MSNBC host has meltdown over Supreme Court's birthright citizenship ruling

Sky News AU

time44 minutes ago

  • Sky News AU

MSNBC host has meltdown over Supreme Court's birthright citizenship ruling

MSNBC host Symone Sanders Townsend has had a meltdown following the Supreme Court's ruling on birthright citizenship. During a panel discussion on Friday, Townsend called SCOTUS's ruling 'insane' as they voted in favour of US President Donald Trump's executive order. 'I just don't, I can't believe that we are asking the question, 'Is the 14th Amendment to the Constitution constitutional?' That is what, it is crazy. And I am sorry, but people need to call, 'This is crazy,'' she said. 'They are asking us… They're asking us not to believe our own eyes and our own ears. They're asking us to go against everything that we know to be true. This is insane.' The Supreme Court recently handed the Trump administration a major victory in its efforts to block lower courts from upending its executive orders. The justices ruled 6-3 in favour of the Trump administration; the ruling will allow lower courts to issue injunctions but only in limited situations.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store