💨 Abstract

President Donald Trump suspended trade negotiations with Canada and announced new tariffs due to Canada's digital services tax. Trump called the tax a "direct and blatant attack" on the U.S. Canada's new tax, effective Monday, retroactively applies to 2022. Canada is the top buyer of U.S. goods, with $349 billion in imports last year. Trump's move could escalate trade tensions and harm both economies.

Courtesy: WTOP Staff