Naoise Dolan: I'm not sad about big firms quitting Pride — they weren't allies anyway
US companies are pulling out amid fears of Trumpian sanctions, but was there ever anything queer about Mastercard?
Today at 21:30
Pride is a celebration of values that should be universally considered the bare minimum. It should be uncontroversial to let queer people live our best lives without fear — but, as a number of US companies have now confirmed, it's not.
Twelve of the 42 US firms that previously sponsored Dublin Pride have withdrawn this year. Ten of them cited the Trump administration's threat to sanction firms for upholding diversity, equity and inclusion (DEI) policies.
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RTÉ News
18 hours ago
- RTÉ News
Trump ends trade talks with Canada over tax hitting US tech firms
President Donald Trump said 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. Mr Trump was referring to Canada's digital services tax, which was enacted last year and forecast to bring in Can$5.9 billion (US$4.2 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 30 June, noted the Computer & Communications Industry Association recently. The three percent tax applies to large or multinational companies such as Alphabet, Amazon and Meta that provide digital services to Canadians, and Washington has previously requested dispute settlement talks over the matter. "Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately," Mr Trump said in a post on his Truth Social platform Friday. Canada may have been spared some of Mr Trump's sweeping duties, but it faces a separate tariff regime. Mr Trump has also imposed steep levies on imports of steel, aluminum and autos. Last week, Canadian Prime Minister Mark Carney said Ottawa will adjust its 25% counter tariffs on US steel and aluminum - in response to a doubling of US levies on the metals to 50% - if a bilateral trade deal was not reached in 30 days. "We will continue to conduct these complex negotiations in the best interest of Canadians," Mr Carney said yesterday, adding that he had not spoken to Mr Trump on the day. US Treasury Secretary Scott Bessent told CNBC that Washington had hoped Mr Carney's government would halt the tax "as a sign of goodwill." He now expects US Trade Representative Jamieson Greer to start a probe to determine the harm stemming from Canada's digital tax. China progress Mr Trump's salvo targeting Canada came shortly after Washington and Beijing confirmed finalising a framework to move forward on trade. A priority for Washington in talks with Beijing had been ensuring the supply of the rare earths essential for products including electric vehicles, hard drives and national defense equipment. China, which dominates global production of the elements, began requiring export licenses in early April, a move widely viewed as a response to Mr Trump's blistering tariffs. Both sides agreed after talks in Geneva in May to temporarily lower steep tit-for-tat duties on each other's products. China also committed to easing some non-tariff countermeasures but US officials later accused Beijing of violating the pact and slow-walking export license approvals for rare earths. They eventually agreed on a framework to move forward with their Geneva consensus, following talks in London this month. A White House official told AFP on Thursday that the Trump administration and China had "agreed to an additional understanding for a framework to implement the Geneva agreement." This clarification came after the US president told an event that Washington had inked a deal relating to trade with China, without providing details. Under the deal, China "will review and approve applications for the export control items that meet the requirements in accordance with the law," China's commerce ministry said. "The US side will correspondingly cancel a series of restrictive measures against China," it added. Upcoming deals Dozens of economies, although not China, face a 9 July deadline for steeper duties to kick in - rising from a current 10%. It remains to be seen if countries will successfully reach agreements to avoid them before the deadline. On talks with the European Union, for example, Mr Trump told an event at the White House on Friday: "We have the cards. We have the cards far more than they do." But Mr Bessent said Washington could wrap up its agenda for trade deals by September, indicating more agreements could be concluded, although talks were likely to extend past July. Mr Bessent told Fox Business there are 18 key partners Washington is focused on pacts with. "If we can ink 10 or 12 of the important 18, there are another important 20 relationships, then I think we could have trade wrapped up by Labor Day," Mr Bessent said, referring to the US holiday on 1 September. Wall Street's major indexes finished at fresh records as markets cheered progress in US-China trade while shrugging off concerns about Canada.
Irish Examiner
21 hours ago
- Irish Examiner
Trump says he is terminating trade talks with Canada over tax on tech firms
US President Donald Trump said he is suspending trade talks with Canada over its plans to continue with its tax on technology firms, which he called 'a direct and blatant attack on our country'. Mr Trump, in a post on his social media network, said Canada had just informed the US that it was sticking to its plan to impose the digital services tax, which applies to Canadian and foreign businesses that engage with online users in Canada. The tax is set to go into effect on Monday. 'Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately. 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,' Mr Trump said in his Truth Social post. Mr Trump's announcement was the latest move in the trade war he has launched since taking office for a second term in January. Progress with Canada has been a roller coaster, starting with the US president repeatedly suggesting it would be absorbed as a US state. Canadian Prime Minister Mark Carney (Patrick Doyle/The Canadian Press via AP) Canadian Prime Minister Mark Carney said on Friday that his country would 'continue to conduct these complex negotiations in the best interests of Canadians. It's a negotiation'. Mr Trump later said he expects that Canada will remove the tax. 'Economically we have such power over Canada. We'd rather not use it,' Mr Trump said in the Oval Office. 'It's not going to work out well for Canada. They were foolish to do it.' When asked if Canada could do anything to restart talks, he suggested Canada could remove the tax, predicted it will but said: 'It doesn't matter to me.' Mr Carney visited Mr Trump in May at the White House. Mr Trump last week travelled to Canada for the G7 summit in Alberta, where Mr Carney said Canada and the US had set a 30-day deadline for trade talks. The digital services tax will hit companies including Amazon, Google, Meta, Uber and Airbnb with a 3% levy on revenue from Canadian users. It will apply retroactively, leaving US companies with a two billion US dollar (£1.4 billion) bill due at the end of the month. 'We appreciate the Administration's decisive response to Canada's discriminatory tax on US digital exports,' Matt Schruers, chief executive of the Computer & Communications Industry Association, said in a statement. Canada and the US have been discussing easing a series of steep tariffs Mr Trump imposed on goods from America's neighbour. The Republican president earlier told reporters that the US was soon preparing to send letters to different countries, informing them of the new tariff rate his administration would impose on them. Mr Trump has imposed 50% tariffs on steel and aluminium as well as 25% tariffs on cars. He is also charging a 10% tax on imports from most countries, though he could raise rates on July 9, after the 90-day negotiating period he set would expire. Canada and Mexico face separate tariffs of as much as 25% that Mr Trump put into place under the auspices of stopping fentanyl smuggling, though some products are still protected under the 2020 US-Mexico-Canada Agreement signed during Mr Trump's first term. Addressing reporters after a private meeting with Republican senators on Friday, Treasury Secretary Scott Bessent declined to comment on news that Mr Trump had ended trade talks with Canada. 'I was in the meeting,' Mr Bessent said before moving on to the next question. 80% Proportion of Canada's exports that go to the US About 60% of US crude oil imports are from Canada, and 85% of US electricity imports as well. Canada is also the largest foreign supplier of steel, aluminium and uranium to the US and has 34 critical minerals and metals that the Pentagon is eager to obtain. About 80% of Canada's exports go to the US. Daniel Beland, a political science professor at McGill University in Montreal, said it is a domestic tax issue, but it has been a source of tensions between Canada and the US for a while because it targets US tech giants. 'The Digital Services Tax Act was signed into law a year ago so the advent of this new tax has been known for a long time,' Mr Beland said. 'Yet, President Trump waited just before its implementation to create drama over it in the context of ongoing and highly uncertain trade negotiations between the two countries.'
The Irish Sun
a day ago
- The Irish Sun
Iconic British carmaker Lotus ‘threatens to close UK factory and set up new plant in US' with 1,300 jobs at risk
ICONIC British sportscar manufacturer Lotus threatening to close a UK factory and set up in the US. The carmaker may be axing production at its headquarters in Hethel, Norfolk, and heading to the United States, as reported by the Advertisement 4 1,300 jobs could be at risk if plans were to go ahead Credit: Getty 4 The brand promised it was "committed to the UK" despite recent cuts Credit: Getty 4 Lotus blamed the "volatility" caused by Donald Trump's trade tariffs for the cuts Credit: Getty The firm has declined to make any official statement on potential plans. But, sources claimed moving production to the US was being discussed. This would put 1,300 jobs at risk if plans were to go ahead. It emerges after production in Hethel was temporarily suspended due to the tariffs on cars being imported to the US. Advertisement Read More The hikes meant business with the States was at risk, with American sellers required to pay taxes of 25% on imports of cars and car parts. In fact, exports to the US have halved since Trump's tariffs were introduced, figures revealed. This comes after the firm warned it is being forced to make more cuts, Lotus again blamed the "volatility" caused by Donald Trump's trade tariffs for the cuts. Advertisement Most read in Motors The luxury The motorcar firm recorded 12,134 sales in the 2024 financial year, a 74% increase on the 6970 sales made the previous year. The modern classic Lotus Elise However, Lotus made just £21.7m in gross profit, a significant decrease on the £76.3 million it made the previous year. Chief financial officer Daxue Wang blamed the decrease in profits on the impact of worldwide tariffs and "global trade uncertainties." Advertisement He added that Lotus, which will 'As we progress with the acquisition of Lotus UK, we are committed to driving cost streamlining and operational enhancements across all markets to continuously deliver long-term value,' Mr Wang said. The beginning of these cost-cutting measures was announced last month, when the manufacturer announced that it would be cutting 270 jobs. The brand promised it was "committed to the UK" despite the cuts, but this has done little to ease fears. Advertisement A spokesperson said: "The proposed restructuring is vital to enhance our competitiveness in today's market. "Lotus Cars has announced a proposed business restructure to ensure sustainable operations, amid volatile and evolving market conditions including the US tariffs and shifting consumer demand for sports cars. "The company plans to increase synergies across the wider Lotus brand and with its largest shareholder and technology partner, Geely Holding Group. "It will look at greater resource sharing and collaboration in technology, engineering, and operations." Advertisement Days after the job cuts were announced, Lotus' current owner Geely International, triggered a 2023 agreement to force Lotus Technology Inc to buy back 51 per cent of Lotus Advanced Technologies. Currently Geely owns 51 per cent of Lotus, with the other 49 percent owned by Malaysian group Etika Automotive. Qingfeng Feng, Senior Vice President of Geely Holding Group and CEO of Group Lotus, said: "This acquisition marks a critical milestone in our strategic journey to fully integrate all businesses under the Lotus brand. "It will strengthen brand equity and enhance our operational flexibility and internal synergies. Advertisement "We are confident that the transaction will create substantial long-term value for our shareholders." Donald Trump's introduction of 25 percent tariffs on car imports to the US has heaped huge pressure on car brands. The UK sends one sixth of all of the cars it builds each year to the US. These include luxe models from car brands such as Aston Martin, Rolls Royce and Land Rover. Advertisement Sales to the US amount to about 100,000 a year, with a worth of around £8 billion. Trump has claimed that the import tax for cars, which came into play on April 2, would lead to "tremendous growth" for the industry. However, experts say it will likely lead to a temporary shutdown of significant production in the US and strain relations with other countries. 4 Iconic British sportscar manufacturer Lotus is threatening to close a UK factory and set up in the US Credit: Alamy Advertisement More to follow... For the latest news on this story keep checking back at The Sun Online is your go-to destination for the best celebrity news, real-life stories, jaw-dropping pictures and must-see video. Like us on Facebook at
