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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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Global Markets Tumble Amid Tariff-Induced Recession Concerns

                                    

Global stock markets experienced a sharp decline as fears of a global trade war intensified. U.S. President Donald Trump's recent announcement of sweeping tariffs has sent ripples through financial markets, with investors bracing for potential economic fallout. The tariffs, which are expected to target a wide range of goods and countries, have heightened concerns about a global recession.

Asian markets led the downturn, with Japan's Nikkei index plunging over 4%, while European and U.S. futures also pointed to significant losses. Investors have sought refuge in safe-haven assets, driving gold prices to record highs and pushing bond yields lower. Economists warn that the uncertainty surrounding these tariffs could dampen consumer and business sentiment, further exacerbating economic risks.

The coming days will be critical as markets await further details on the scope and implementation of these tariffs. Analysts caution that prolonged trade tensions could have far-reaching implications for global economic stability.

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