Trump Calls Off Trade Talks with Canada Amid Digital Tax Dispute

News Snapshot:

In a surprising turn of events, U.S. President Donald Trump on Friday severed trade negotiations with Canada, citing the country's digital services tax on American tech companies as a 'blatant attack.' Trump announced intentions to establish new tariffs on Canadian imports within the week. While U.S. stocks initially dipped following Trump's announcement, the markets quickly recovered, closing the week at record highs. The U.S. digital tax impacts firms like Amazon, Meta, and Alphabet's Google, with collections set to begin as planned on Monday. Payments will be retroactive to 2022, charging a 3% levy on revenues exceeding $20 million from Canadian...