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Ottawa Backs Down on Digital Tax Dispute Amid Pressure from Trump White House

Canada has reportedly agreed to delay its planned digital services tax (DST) following pressure from former U.S. President Donald Trump’s administration, according to a recent statement from the White House. The tax, which was originally slated to target tech giants like Amazon, Meta, and Google, had been a major sticking point in U.S.-Canada trade discussions. The White House claimed Canada “caved” to U.S. demands after months of negotiations, with Trump’s team arguing the tax unfairly targeted American firms. The Canadian government, however, framed the delay as a strategic move to preserve economic stability and avoid retaliatory tariffs. Critics within Canada argue that the government’s decision reflects a growing trend of yielding to U.S. economic influence, while others say the delay is pragmatic given ongoing global talks about a coordinated approach to taxing digital revenues. The issue remains contentious, and observers are watching closely to see whether Canada will revive th...
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Stock Markets Today: North American markets close higher



The Toronto Stock Exchange (TSX) 300 Composite Index closed at 20,290.41, up by 1.32% or 265.27 points from the previous close. The S&P/TSX 60 Index rose by 1.37% or 16.38 points to close at 1,214.77The S&P/TSX Venture Composite Index increased by 0.93% or 5.43 points to close at 588.15.

The TSX 300 Composite Index’s gain was driven by the rise in energy and financial stocks, which were up by 2.4% and 1.7%, respectively. The increase in oil prices due to the hurricane Ida’s impact on oil production in the Gulf of Mexico was one of the reasons for the rise in energy stocks. The financial sector’s rise was due to the Bank of Montreal’s announcement of a dividend increase and share buyback program.

In the US, the Dow Jones Industrial Average (DJIA) closed at 35,335.71, up by 0.37%, while the S&P 500 index closed at 4,486.23, up by 0.10% 3. The Nasdaq Composite index closed at 15,235.73, down by 0.17% .





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