Canada announced Sunday night it is suspending a planned tax on U.S. technology companies, prompting former President Donald Trump to resume halted trade negotiations\u2014a move seen as a significant political and economic win for Trump.<\/p>\n
The Canadian government had planned to implement the tax on Monday but reversed course, citing hopes for a \u201cmutually beneficial comprehensive trade arrangement with the United States.\u201d Prime Minister Mark Carney officially informed the Trump administration, and both countries are expected to resume trade talks around July 21.<\/p>\n
Trump had previously condemned the tech tax as an \u201cattack\u201d on the U.S. and abruptly suspended trade negotiations on Friday to pressure Canada. The Canadian reversal came just days later.<\/p>\n
Meanwhile, Trump on Thursday boasted that the U.S. has collected $88 billion in tariff revenue in just two months under his new tariff structure, introduced in April. He claimed the surprising revenue figure had even caught Congress off guard.<\/p>\n
\u201cI said, \u2018How much is it?\u2019 They said, \u2018About $80 billion.\u2019 I said, \u2018Check again.\u2019 An hour later they came back and said, \u2018Sir, we\u2019ve taken in $88 billion in tariffs.\u2019 Isn\u2019t that a beautiful thing?\u201d Trump said during a White House event urging Congress to pass his \u201cOne, Big, Beautiful Bill\u201d by July 4.<\/p>\n
The speech came as Trump\u2019s 90-day pause on reciprocal tariffs is set to expire July 8, and he\u2019s pushing lawmakers to solidify broader trade measures before then.<\/p>\n
Trump also announced a new trade agreement with China, though he didn\u2019t provide specific details. He emphasized that other countries are eager to negotiate with the U.S., saying, \u201cEverybody wants to make a deal.\u201d He added, \u201cSome we\u2019re just going to send a letter saying thank you very much\u2014you\u2019re going to pay 25%, 35%, 45%. That\u2019s the easy way to do it. My people want to make more deals than I can do.\u201d Trump also hinted at a possible upcoming agreement with India, suggesting more trade wins could be on the horizon.<\/p>\n","protected":false},"excerpt":{"rendered":"
Canada announced Sunday night it is suspending a planned tax on U.S. technology companies, prompting former President Donald Trump to resume halted trade negotiations\u2014a move seen as… <\/p>\n","protected":false},"author":2,"featured_media":7660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-7659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n