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International Business Times
International Business Times
Business

Canada Rescinds Tax On US Tech Firms In Hopes Of Trump Trade Deal

Canadian Prime Minister Mark Carney (L) and US President Donald Trump at a G7 summit in Canada in June 2025 (Credit: AFP)

Canada will rescind taxes impacting US tech firms that had prompted President Donald Trump to retaliate by calling off trade talks, Ottawa said Sunday, adding that negotiations with Washington would resume.

The digital services tax, enacted last year, would have seen US service providers such as Alphabet and Amazon on the hook for a multi-billion-dollar payment in Canada by Monday, analysts have said.

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