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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 Turmoil: Markets React as Trump Targets Key Trading Partners

                                              

U.S. stock index futures took a sharp hit on Monday after President Trump announced steep tariffs on imports from Canada, Mexico, and China. The new measures include a 25% duty on goods from Canada and Mexico and a 10% levy on Chinese products, sparking fears of an escalating trade war and its potential to disrupt global supply chains.

Dow futures fell by more than 500 points early in the session, while both S&P 500 and Nasdaq futures dipped by around 1.5% to 2%. The sudden drop reflects mounting concerns among investors that the tariffs could trigger retaliatory measures from the affected nations, further intensifying market volatility and potentially slowing economic growth.

Analysts warn that if the trade conflict intensifies, the resulting uncertainty may push inflation higher and force the Federal Reserve to reconsider its policy stance. With key economic data and quarterly earnings reports on the horizon, traders and investors are closely monitoring the situation for further clues about the future direction of the markets.

Globally, markets from Europe to Asia have also shown signs of strain, underscoring the broad impact of the U.S. tariff policy. As nations weigh their responses, the coming days will be critical in determining whether these moves mark the start of a broader trade confrontation or a temporary market correction.


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