Latest news with #AmericanTech
Yahoo
02-07-2025
- Business
- Yahoo
Trump 'Terminating' U.S.-Canada Trade Talks Over Streaming Tax
U.S. President Donald Trump has called an immediate halt to trade talks with Canada to end a tariff war over a decision by Ottawa to start collecting a digital services tax on American tech giants. 'We have just been informed that Canada, a very difficult Country to TRADE with… has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our Country,' Trump wrote Friday on his Truth Social site. More from The Hollywood Reporter Kneecap Shocks as Expected With Raucous Glastonbury Set: "The BBC Editor Is Going to Have Some Job" Sony, Crunchyroll Drop First 'Demon Slayer' Trailer Matty Healy Gives Mixed Message on Politics as The 1975 Kick Off Glastonbury Headline Sets '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,' Trump added. Canada's digital services levy on American digital platforms was introduced last year and the federal finance department in Ottawa was set to start collecting the tax from foreign tech platforms as of June 30. The bill for American tech players, which comes from a 3 percent levy imposed on their revenues from doing business in Canada and due on Monday, is retroactive to 2022 and could reach $2 billion annually. With the major studios and film, TV and music streamers inextricably tied to the Canadian market, the digital services tax was always seen by Ottawa as likely part of a broader negotiations between the U.S. and Canada to set a new trade policy between the two major economic partners. Compelling local American tech giants to put dollars into homegrown films, TV and music product via taxes on their revenues has long been sought by Canadian content creators. Trump ending talks with Canada follows the U.S. president and Canadian Prime Minister Mark Carney agreeing earlier this month after a G7 Summit in Alberta to pursue negotiations toward a new trade and security deal by mid-July. Canadian politicians and lobby groups took Trump's latest social media posts and bargaining threats in their stride on Friday as just part of a likely roller coaster ride on the way to an eventual new and updated U.S.-Canada trade deal. 'We will continue to conduct these complex negotiations in the best interest of Canadians,' Carney told reporters in Ottawa. Candace Laing, CEO of the Canadian Chamber of Commerce, which has opposed the digital services tax, added: 'The tone and tenor of talks has improved in recent months, and we hope to see progress continue.' Best of The Hollywood Reporter How the Warner Brothers Got Their Film Business Started Meet the World Builders: Hollywood's Top Physical Production Executives of 2023 Men in Blazers, Hollywood's Favorite Soccer Podcast, Aims for a Global Empire
Yahoo
28-06-2025
- Business
- Yahoo
Trump mounts a new trade war with Canada
Donald Trump says the U.S. is ending trade talks with Canada after the country put a new tax on digital services from American tech giants. So will this stance actually hold - or is it all talk? Former Sen. Heidi Heitkamp, Jon Ralston, and Art Cullen join Stephanie Ruhle for The 11th Hour Nightcap.
South China Morning Post
27-06-2025
- Business
- South China Morning Post
Trump says US to tell countries ‘what they have to pay', sees China, India deals soon
With the July 9 deadline for 'Liberation Day' tariffs nearing, US President Donald Trump said on Friday that Washington would inform countries 'what they have to pay' to do business with America 'over the next week and a half or so'. His remarks came hours after Treasury Secretary Scott Bessent suggested trade talks could continue to September. Trump also directed a new salvo at Canada, announcing an immediate halt to trade talks in retaliation for Ottawa's plan to introduce a digital trade tax that could largely target American tech firms. 'At a certain point, over the next week and a half or so, or maybe before, we're going to send out a letter. We talked to many other countries, and we are just going to tell them what they have to pay to do business in the United States. And it's going to go very quickly,' Trump told reporters. He said he sent the letter because Washington has '200 countries' to negotiate with and the administration 'can't do that'. Trump indicated he expected agreements with China and India soon.
Wall Street Journal
27-06-2025
- Business
- Wall Street Journal
Trump Lashes Out at Canada
President Trump on Friday said the U.S. was terminating all trade talks with Canada over what he called egregious tariffs on dairy products and a digital-services tax on American tech companies. He said Canada "has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our Country,' on his Truth Social platform. 'Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately.' The U.S. has been in talks with Canada for months, working to negotiate a trade deal with America's northern neighbor.
The Independent
16-06-2025
- Business
- The Independent
Trump launches Trump Mobile network with gold phones
The Trump Organization has announced the launch of Trump Mobile, a smartphone and mobile service aimed at "real Americans," positioning it as a competitor to Apple and Samsung. The gold-colored 'T1 Phone' will be available in August for $499, while the phone plan will cost $47.45 a month. Trump Jr. stated that Trump Mobile will prioritize American-based call centers and domestically manufactured phones, emphasizing a commitment to putting America first. Experts suggest the market is receptive to a new competitor due to the increasing cost of devices from established brands like Apple and Samsung. Critics, such as Harvard Law Professor Lawrence Lessig, argue that ventures like Trump Mobile highlight potential conflicts of interest and the use of the presidency to grow the Trump family's wealth.
