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BREAKING NEWS: Donald Trump Has Again Turned the Tables, There is a Surprise Regarding Customs Duties!
President of America Donald Trump reacted strongly to Canada's decision on the digital services tax on American technology companies.
In a statement made today via Truth Social, Trump said, "We are immediately terminating all trade discussions with Canada."
Trump accused Canada of organizing "an open and brazen attack" on American technology firms by imitating the European Union. Following the tax decision in question, long-standing trade relations with Canada, a close ally of the U.S., suddenly came under threat.
"We will notify Canada of the customs duties they will pay to trade with the US within the next seven days," said Trump, who also claimed that the country has imposed tariffs of up to 400% on American farmers for dairy products for years.
According to the Office of the United States Trade Representative, the volume of goods trade between the two countries was around 762 billion dollars last year. With this new development, a disruption of economic balances in North America is expected.
*This is not investment advice.
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