Friday, 04 July 2025

BREAKING: President Trump Terminates ALL Trade Talks With Canada

100 Percent Fed Up
Hits: 11

It looks like Mark Carney and Canada are entering the FO phase of FAFO.

President Trump gave them every opportunity possible to come to the table and make a trade deal, and not only did they not do that but they just took action against the USA.

Big mistake.

Here’s POTUS:

FULL TRANSCRIPT HERE if this is easier for you to read:

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. They are obviously copying the European Union, which has done the same thing, and is currently under discussion with us, also. 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.

Thank you for your attention to this matter!

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You know when you get the “Thank you for your attention to this matter” you’ve really messed up Big League!

Here’s a quick summary of all the surrounding details we know so far:

  • President Trump terminated all trade talks with Canada, citing Canada’s new Digital Services Tax (DST) as a “blatant attack” on American tech companies.

  • The Canadian DST, effective June 2024, imposes a retroactive 3% tax on digital services revenue (from 2022 onward) of large companies like Amazon, Google, Meta, etc., even if they don’t have a physical presence in Canada.

  • Trump accused Canada of copying the EU and stated the U.S. will announce new tariffs within seven days.

  • Trump said Canada is difficult to trade with, pointing to tariffs of up to 400% on U.S. dairy products.

  • The U.S. dollar strengthened and stocks briefly dipped following Trump’s announcement, though major indexes still closed at record highs.

  • Canadian Prime Minister Mark Carney said he still hopes to reach a deal and continue talks, but was not given advance notice about the termination.

  • U.S. Treasury and economic officials, including Kevin Hassett and Scott Bessent, criticized the DST as unfair and retroactive, blaming Canada for refusing to delay it.

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  • Trump emphasized that the U.S. holds leverage, given Canada’s heavy dependence on U.S. trade (top trading partner).

  • Business groups on both sides (Canadian Chamber of Commerce, Business Council of Canada, U.S. tech industry groups) strongly oppose the DST, warning it could derail trade and hurt economic ties.

  • U.S. lawmakers said 90% of Canada’s DST revenue would come from U.S. companies, calling it an unprecedented and damaging move.

  • Trump had earlier threatened 25–50% tariffs on various Canadian exports, particularly steel, aluminum, and autos, though many remain waived if compliant with USMCA (which Trump negotiated in his first term).

  • Canada retaliated with its own tariffs, including 25% on U.S. vehicles, steel, aluminum, whiskey, and other goods.

  • As of now, a July 9 deadline looms for reciprocal tariffs against other nations unless new deals are struck.

    • This is a Guest Post from our friends over at WLTReport.

    View the original article here.


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