The president posted on Truth Social that Canada had planned to put a tax on U.S. technology companies, calling the move "a blatant attack."
  • DaddleDew@lemmy.world
    25·
    8 days ago
    • The tax is for everyone not just the US.
    • Technology companies were making billions off of the backs of Canadians by harvesting their data and selling them ads without giving anything back, which was pure exploitation and it is an embarrassment that this tax didn’t exist earlier.
    • Many countries had implemented a similar tax already
    • The tax is just 3%, which is pitiful
    • That tax had been announced a year ago.
    • That “400% tariff” that he claims Canada charges is pure BS. Those tariffs are after quota and the quotas are never reached. Therefore the US never paid those tariffs. Those quotas exist to prevent the US from destroying Canadian industries one by one with targeted dumping and I wouldn’t put it past Trump to do that should Canada ever remove those quotas.

    TACO just wanted to pick another fight with his country’s best trading partner and found an excuse to do so.

    I’m glad we’re moving away from trading with the US. They were screwing Canada over at every chance they had.

    • FelixCress@lemmy.world
      7·
      9 days ago

      Just one comment: 3% of turnover is not “pitiful”, it is a decent amount close to corporation tax rate in many countries. If you assume profit is 10% and you are charging 3% of revenue, that means the effective tax is 30% of profits. As an example, in the UK it is 25%.

      It is the % same as EU proposed.