Canada Said "Nah" to Taxing Big Tech to Get Back in US's Good Graces 💅

The Tea ☕

Alright, fam, let's get into it. Canada was like, "Yo, let's get some coin from these big US tech companies," and slapped a digital services tax on 'em. We're talking companies like Amazon, Apple, and Google, the whole shebang. Basically, if they made over $20 million in Canada, they had to cough up 3% of that. Shmoney retroactive to 2022!

But then, *plot twist*, the US, especially when Trump was in office, started throwing shade. They were like, "Nah, that's sus. You can't just tax our companies like that!" Trump even threatened to drop some tariffs on Canada, which is a major L for them, since the US is like, their second-biggest trading partner. We're talking about Canada buying $349 billion worth of US goods and sending $412 billion back the other way last year. Huge numbers, obvi.

So, Canada was like, "Aight, bet. We'll ditch the tax." They scrapped the whole thing to try and get back in the US's good graces and restart those trade negotiations. They're trying to seal the deal by July 21st. The Canadian government is saying they just wanna do what's best for Canadian workers and businesses, but let's be real, it's all about keeping the $$$ flowing.

Basically, Canada blinked first to avoid a trade war. Stay tuned, it looks like negotiations about to get spicy 🌶️.