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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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Tariff Tensions Trigger Market Slide as Trump Reaffirms 'America First' Trade Policy

                                               

U.S. stock indexes stumbled on Friday as confirmation came that President Donald Trump will implement sweeping tariffs on imports from Canada, Mexico, and China starting this Saturday. Major indices reflected growing investor caution ahead of the new trade measures.

According to reports, the Dow Jones Industrial Average fell by 337 points to close at roughly 44,545, while the S&P 500 dropped about 31 points to finish near 6,041. The technology-heavy Nasdaq also recorded a decline of over 54 points, ending the session at around 19,627. The selloff came after the White House reiterated Trump’s commitment to a robust “America First” policy that aims to protect domestic industries by raising the cost of imported goods citeturn0search15.

Earlier in the day, markets had been trading higher as investors digested an inflation report in line with expectations. However, as details emerged confirming the tariffs’ imminent implementation, uncertainty about their potential impact on prices and global supply chains triggered a sharp pullback in sentiment.

Market analysts warn that the tariffs could lead to higher consumer prices and disrupt trade flows, adding to inflationary pressures at a time when economic growth remains fragile. The renewed emphasis on protectionist measures has intensified debates over the balance between domestic job creation and the broader implications for the global trading system.

Investors now face the challenge of navigating a volatile environment as the tariff threat looms over the weekend, with many eyeing key economic indicators in the coming days for signs of how the new policies might ultimately affect market performance.

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