Canada Said "Nah" to Digital Tax: Trump Wins, Tech Giants Relieved 💅

The Tea ☕

Okay, so listen up, fam. Canada was about to drop this 3% tax on all the big digital companies, like, fr fr, that are pulling in over $20 million a year from Canadian users. We're talking online ads, e-commerce – the whole shebang. But plot twist, they just pulled the plug, like, last minute. 🤯

Why the sudden change of heart? Apparently, Canada wants to smooth things over with the US and get those trade talks back on track. Word is, Trump was NOT feeling this tax, and he saw it as a major L for US companies. So, Canada was like, "Aight, bet, we'll scrap it" to avoid any beef. 🤷‍♀️

This is huge for companies like Amazon, Google, Meta, and Apple. They were staring down the barrel of billions in taxes, but now they can chill. Plus, it keeps the US and Canada on good terms, which is a big deal because the US is Canada's biggest trading buddy. 🤝

Canada's Finance Minister is gonna make it official with some new laws, but for now, the digital tax is dead. They're still hoping for some kind of global agreement on taxing digital stuff, but for now, it's all about keeping the peace with the US.

Also, just a side note, unrelated to the taxes. VinFast Auto India and myTVS have teamed up to build 120 Extended Service Workshops in India. Just thought I would let you know, lol.

But wait, there's more! Trump lowkey said he ain't extending the tariff deadline, but like, he might if he needs to. Treasury Secretary Scott Bessent thinks some trade deals could be finalized by Labor Day. Nike also said they might be taking a $1 billion hit from tariffs. Fireworks displays should be chill though. Also, Trump wants a "big" trade deal with India. Stay tuned, besties!