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Trump says he is ending all trade talks with Canada

Updated Jun 27, 2025, 4:11pm EDT
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US President Donald Trump talks to reporters upon his arrival at Morristown Municipal Airport in Morristown, New Jersey, on June 20.
Ken Cedeno/Reuters

US President Donald Trump said Friday the US was ending all trade talks with Canada “effective immediately” over its digital services tax that would impact US tech firms, calling it a “direct and blatant attack on our country.”

Canada’s 3% digital services tax went into effect last year, but its first payments are due Monday, with US companies expected to shell out nearly $2.7 billion. Trump said US tariffs on Canadian goods would be applied within the next week. Last month, the US and UK agreed a trade deal despite Westminster enacting a 2020 digital services tax.

The S&P 500 closed at a record high Friday as investors overlooked Trump’s threat to end talks with one of Washington’s biggest trading partners.

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