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30 June | Other

Canada decides to repeal tax for tech corporations to restart trade talks with US

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Canada decides to repeal tax for tech corporations to restart trade talks with US

On Monday, Canada announced the repeal of the Digital Services Tax (DST), paving the way for resuming talks with the United States. According to Investing, the two sides are aiming to conclude a trade agreement by July 21.

According to Finance Minister François-Philippe Champagne, the government will suspend the DST charge on June 30 and submit a document to repeal the relevant act affecting large multinational technology companies operating in the country. The tax, introduced in 2020, was seen by Washington as a key obstacle to broader trade discussions.

The decision came shortly after US leader Donald Trump abruptly halted trade talks with Canada on Friday after criticizing the DST.

The leaders of both countries decided to resume talks, reaffirming their intention to reach a comprehensive agreement.

Elena Berseneva MarketCheese

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