Canada retaliates against U.S. steel imports after Trump terminates trade talks

President Donald Trump said Friday that he had terminated trade discussions with Canada, citing an incoming Canadian tax on tech companies including those based in the U.S.In a post on Truth Social, Trump referred to Canada as "a very difficult country to trade with" and said that its levy on tech firms — the first payment for which is due Monday — "is a direct and blatant attack on our Country.""Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately," he said.

President Donald Trump said Friday that he had terminated trade discussions with Canada, citing an incoming Canadian tax on tech companies including those based in the U.S.

In a post on Truth Social, Trump referred to Canada as "a very difficult country to trade with" and said that its levy on tech firms — the first payment for which is due Monday — "is a direct and blatant attack on our Country."

"Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately," he said. "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."

Last week Canada’s finance minister said that he would not delay implementation of the digital services tax — which applies to any tech company making more than $15 million from Canadian internet users — even as U.S. trade talks continue.

A lobbying group for some tech giants said the tax, which is retroactive to 2022, would cost U.S. companies as much as $3 billion. Those payments are due beginning June 30.