“President Donald Trump abruptly announced Friday he was ending trade talks with Canada, objecting to the country’s new digital services tax, which is set to take effect Monday,” the Washington Post reports.
Wrote Trump: “Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately. We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period.”
New York Times: “The president’s threat to end talks with one of the country’s largest trading partners could unleash chaos on both sides of the border. Tariffs are taxes on imports, the burden for which could fall heaviest on U.S. companies and consumers.”
“Still, Mr. Trump has frequently brandished imminent plans to penalize other countries with high levies, only to later back down, especially once markets panic over the potential interruptions to commerce.”
