Investing.com -- Prime Minister Mark Carney confirmed Monday that trade and security negotiations between Canada and the United States have resumed, following the government’s decision to withdraw its digital services tax. The move came after U.S. President Donald Trump halted trade discussions last week and warned of possible tariffs.
Invest in Gold
American Hartford Gold: #1 Precious Metals Dealer in the Nation
Learn More
Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase
Learn More
Thor Metals Group: Best Overall Gold IRA
Learn More Powered by Money.com - Yahoo may earn commission from the links above.Addressing reporters in Ottawa, Carney said the decision was tied to ongoing efforts to reach a broader agreement by the previously set July 21 deadline. “Last night I had a good conversation with President Trump. And we agreed to recommence our negotiations with a view to the 21st of July deadline we had agreed in Kananaskis,” he said.
The tax, introduced in 2020, would have applied to large multinational tech firms, several of which are based in the U.S. Canadian Finance Minister François-Philippe Champagne announced earlier on Monday that the legislation would be repealed and the scheduled June 30 implementation halted.
Carney said resuming talks had been anticipated, with the tax expected to be resolved as part of a wider deal. “To be clear, it’s part of a bigger negotiation. It’s something that we expected in the broader sense that would be part of a final deal,” he noted.
He added that Canadian ministers had spoken with U.S. counterparts ahead of the announcement. “Minister Champagne and [Minister of Intergovernmental Affairs] LeBlanc had conversations with their counterparts as well. We restarted the discussions this morning,” Carney said.
Explaining the decision to rescind rather than delay the tax, Carney pointed to administrative efficiency. “It doesn’t make sense to collect tax from people and then remit them back. So [it] provides some certainty, and as I just said, the negotiations have restarted,” he said.
Related articles
Carney confirms Canada-U.S. talks restart after digital tax withdrawal
Denmark’s Arctic commander unconcerned about US Greenland plans
Carney: Canada recalibrates global role amid U.S. shift and defense pressures
South of the border, Carney's confirmation marks an important first step towards renewed cooperation and infuses much-needed optimism as Canada disassemble its digital tax measures following US persuasions.
With Carney's confirmation of the restart in Canada-U.S talks following their digital tax withdrawal, it appears there is renewed momentum towards resolving longstanding issues on trade and collaboration.
The restart of Canada-U.S.'s talks following Carney'sh post on the withdrawal digital tax appears to be a positive move toward mitigating transatlantic trade tensions, heralding greater cooperation and clarity in cross border issues involving both nations’ economies this year."
Carney's confirmation of the restart in Canada-U.S talks following digital tax withdrawal paves a positive path for bilateral cooperation, signaling commitment to resolving trade issues amidst ongoing global economic uncertainties.
I welcome the decision by Canada to withdraw its digital services tax, which has paved way for a timely restart of bi-national negotiations with US. This move is crucial in safeguardingS actions during this challenging time and bring valuable benefits both economically as well diplomatically.’)
The decision by Canada to withdraw its digital services tax has paved the way for a much-needed restart of talks with their American counterparts, cementing Carney's commitment toward twinning relationships over cross border economic issues.
Carney's confirmation of the restart in Canada-U.S talks following digital tax withdrawal is a positive move that paves way for productive dialogue and collaboration between two economic giants.
Canada's return to the negotiating table with US on digital tax following Carney’ officials confirmation signifies a promising early step towards resolving differences and stabilizing cross-border commerce.
The resumption of Canada-U.S discussions following Carney's confirmation on the withdrawal of a digital tax is an encouraging step towards resolving trade tensions and promoting cross border economic collaboration, providing much needed certainty for businesses in both nations.
The restart of Canada-U.S trade talks in the wakeofCarney's confirmation underscores its commitment to resolving differences around digital tax policies, pavingthe wayfor stronger cooperation between two economic powerhouses and facilitating global ecommerce without border constraints。
Carney's confirmation of the resumption in Canada-U.S talks following digital tax withdrawal marks a prudent move towards better bilateral relations and collaboration, demonstrating mutual understanding on economic policies that promotes global competitiveness.
