Latest news with #TradeDispute
RNZ News
17-07-2025
- Business
- RNZ News
New Zealand reaches deal with Canada in long-running dairy trade dispute
Trade Minister Todd McClay Photo: RNZ / REECE BAKER Trade Minister Todd McClay says Canada has agreed to allow access for New Zealand dairy products following a long running trade dispute. Dairy exporters had been blocked from the Canadian market, despite the move being in breach of the CPTPP trade agreement. On Friday morning McClay announced an agreement had been reached. He says Canada has committed to making changes to its dairy quotas which will deliver up to $157 dollars to New Zealand dairy exporters. More to come
Bloomberg
03-07-2025
- Business
- Bloomberg
China Shuns US Oil for Longest Stretch Since 2018
China avoided purchasing US crude for the third straight month — the longest stretch since 2018 — delivering a fresh blow to shale drillers already facing lower oil prices. The world's biggest oil importer bought no American crude in May, according to US Census data released Thursday, following zero purchases in both March and April as a trade dispute between the largest global economies roiled markets. The absence of Chinese buying sent US overseas oil sales tumbling to the lowest in two years.
Yahoo
28-06-2025
- Business
- Yahoo
Trump Cuts Off Trade Talks With Canada Over Digital Services Tax
President Donald Trump on Friday said he was 'terminating ALL discussions on Trade' with Canada over the country's new digital services tax that aims to collect billions of dollars from American tech giants like Meta and Amazon, starting on Monday. 'We have just been informed that Canada, a very difficult Country to TRADE with, including the fact that they have charged our Farmers as much as 400% Tariffs, for years, on Dairy Products, 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 posted on Truth Social. The president then said he was canceling all trade discussions with America's northern neighbor due to the 'egregious Tax.' He added '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,' before adding his trademark sign-off, 'Thank you for your attention to this matter!' Canada's DST is a 3% tax on large tech companies with more than about $800 million in annual revenue. It targets companies involved in social media services and online advertising, which puts tech giants like Meta, the parent company of Facebook and Instagram, Amazon, and Google-parent Alphabet on the hook for payments. The first tax payment is due on Monday, and is retroactive to sales made since the start of 2022. The Wall Street Journal estimated that initial payment would be around $3 billion for the collective U.S. firms being taxed. Upon the president's post on Friday, Canadian Prime Minister Mark Carney's office shared a brief response. 'The Canadian government will continue to engage in these complex negotiations with the United States in the best interests of Canadian workers and businesses,' his office said. The post Trump Cuts Off Trade Talks With Canada Over Digital Services Tax appeared first on TheWrap. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
27-06-2025
- Business
- Yahoo
Trump Cuts Off Trade Talks With Canada Over Digital Services Tax
President Donald Trump on Friday said he was 'terminating ALL discussions on Trade' with Canada over the country's new digital services tax that aims to collect billions of dollars from American tech giants like Meta and Amazon, starting on Monday. 'We have just been informed that Canada, a very difficult Country to TRADE with, including the fact that they have charged our Farmers as much as 400% Tariffs, for years, on Dairy Products, 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 posted on Truth Social. The president then said he was canceling all trade discussions with America's northern neighbor due to the 'egregious Tax.' He added '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,' before adding his trademark sign-off, 'Thank you for your attention to this matter!' Canada's DST is a 3% tax on large tech companies with more than about $800 million in annual revenue. It targets companies involved in social media services and online advertising, which puts tech giants like Meta, the parent company of Facebook and Instagram, Amazon, and Google-parent Alphabet on the hook for payments. The first tax payment is due on Monday, and is retroactive to sales made since the start of 2022. The Wall Street Journal estimated that initial payment would be around $3 billion for the collective U.S. firms being taxed. Upon the president's post on Friday, Canadian Prime Minister Mark Carney's office shared a brief response. 'The Canadian government will continue to engage in these complex negotiations with the United States in the best interests of Canadian workers and businesses,' his office said. The post Trump Cuts Off Trade Talks With Canada Over Digital Services Tax appeared first on TheWrap. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
09-06-2025
- Business
- Zawya
Kenya's new ceramics tax irks partners
Kenya has imposed excise duty on ceramic tiles originating from Uganda and Tanzania, setting off fears of a potential trade dispute with Kampala and Dodoma terming the tax as 'discriminatory.'Uganda brough this up before the EAC Sectoral Council on Trade, Industry, Finance and Investment (SCTIFI) during a meeting in Arusha last month (May 26-30), saying it has affected Uganda originating ceramic tiles, in contravention of the principle of National Treatment as enshrined in Article 15 of the EAC Customs Union Protocol and contrary to the broader objectives of the EAC Customs Union. Kenya imposed five percent duty or Ksh200 ($1.55) per square metre on imported ceramic paving or tiles as part of a list of goods and services subject to new duties under the Tax Laws (Amendment) 2024 that came into effect in January. The EAC Secretariat said that a related issue had been raised by Tanzania in December 2024. AdjustmentsIt was noted that the matter was reported during the Regional Monitoring Committee and also during the Sectoral Committee on Trade held in May where Kenya promised policy adjustments to the national budget for the financial year 2025/2026. Kenya added that consultations were on, and an update would be provided during the 47th SCTIFI meeting but argued partner states have excise duty which does not conform to the provision of Article 15 of the Protocol establishing the EAC Customs Union. The meeting noted that many partner states have imposed excise duty on goods produced within the community which does not conform with the provisions of the EAC Customs Union. EAC Sectoral Council on Trade, Industry, Finance and Investment (SCTIFI) directed the EAC Secretariat to compile a list of all goods for which excise duty has been imposed contrary to Article 15 of the Protocol establishing the EAC Customs Union and convene an Extraordinary meeting of the EAC Sectoral Council on Finance and Economic Affairs to deliberate on the matter by end of July. © Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (
